THE chance proximity of two back page advertisements in The Irish Times eventually led to Mr Harry Moore passing his business to Mr Stephen Cloonan, who in his turn sold it to the British electronics giant Dixons during the week.

"I was an accountant with Price Waterhouse-Craig Gardner, looking to go into business on my own. In 1982 I put an ad in The Irish Times," Mr Cloonan says.

In it, he said that a bright, young manager sought a business person who was thinking about retiring.

"But directly beneath my ad, was an ad for some product that Harry Moore was selling. Harry cut out his own one, and by accident, mine with it."

Eventually, Mr Moore noticed Mr Cloonan's request, and wrote to him.

Over the following 12 years, with Mr Cloonan working as the company's managing director, Mr Moore gradually transferred the shares to the younger man.

After the sale to Dixons, Mr Cloonan admitted "a certain amount of sadness", but said it was for the best. Mr Moore, he said, also had mixed feelings, but felt it was the right decision.