Zipit’s €2.5m plan, Medallia’s job reversal and Russell & Bromley’s Grafton Street plan
Forestry adventure company Zipit is to invest around €2.5million in plans to roll out new zipline facilities in Coillte Forest Parks, including one in Co Kildare’s popular Donadea Forest Park, reports the Sunday Independent .
The €1million Kildare facility, for which a permit application has just been submitted, will be Europe’s most advanced zipline park, the Cork’s Cool Running Events owned company told the newspaper.
It will also feature Ireland’s longest zipline course, with a series of nearly 1km circuits through the treetops, connected by wooden platforms that wrap around the trees at heights of up to 20 meters and including rope bridges, swinging logs and ladders.
Zipit already has three parks on Coillte land in Dublin, Roscommon and Cork.
Grafton Street Retail
British luxury shoe and handbag retailer Russell & Bromley is in talks to open a store on Grafton Street, The Sunday Times reports.
The firm is believed to be one of nine firms in advanced negotiation to open stores in Dublin’s High Street, which would fill half of the 18 retail units currently vacant.
Russell & Bromley is set to move into the former Fitzpatrick’s Shoes store at No 76, which comprises just over 2,200 square feet of retail space and is available on a 20-year sublease through Savills.
Inversion of the employment plan
US software company Medallia has reversed its growth plans in the Republic, reports the Business Post. Medallia had created 20 of the 100 planned remote jobs here, but staged a series of layoffs earlier this month as part of wider changes to its European business, leaving its Irish team in “low double digits”. It no longer has squad targets by country, he said.
The company’s arrival – which counts Airbnb, Adobe and Salesforce among its customers – was heralded by IDA Ireland in 2021 when it set up a mid-market sales and support center to support the Europe region. , Middle East and Africa (Emea).
All the money raised by renewable energy developer Solar 21 for a now-delayed UK waste management project, amounting to up to €250m, came from Irish investors, reports the Sunday Independent .
Solar 21 has confirmed that at least some of the loan notes sold to investors to raise money for the stalled waste-to-energy plant in Yorkshire were distributed by a Naas-linked company, Co Kildare, a Wealth Options financial services.
The newspaper reported last week that Solar 21 was seeking “financing solutions” after delaying repayments due to investors, citing Covid, construction delays, staff shortages and rising commodity prices.
Construction group review
Roadbridge, the construction group that built Dublin Airport’s new north runway, is carrying out a strategic review of its business which could lead its family owners to attract an outside investor, according to The Sunday Times.
The newspaper said it understands that the group, which is owned by the family of its founder, Pat Mulcair, has retained the services of IBI Corporate Finance to advise it on a possible recapitalization, including the sale of a stake in the ‘business.
Dublin Tender Contract
Dublin Town, the city center’s Business Improvement District (BID), has notified Dublin City Council that it will be seeking a renewal of its five-year contract, the Business Post reports.
The promotion company, which recorded arrears of nearly 4 million euros at the end of 2021, according to the newspaper, is supported by legislation obliging companies to pay it a levy equivalent to 5% of their rates to the municipality.
A group of businesses recently campaigned against renewing the BID, arguing that the levy amounted to double taxation.