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Dublin department store Clerys has ceased trading while staff, suppliers and customers await news from new investors regarding the store’s future.


Clerys’ US owner Gordon Brothers announced Friday it had sold the business to a joint venture called Natrium Ltd, comprising Irish investment group D2 Private and Cheyne Capital Management.


Hours later, Clerys’ operating company OCS Operations was placed into liquidation, having reportedly been transferred out of the group by its new owner.


More than 130 Clerys staff, plus more than 300 others employed by concession holders in the famous O’Connell Street store, were then told the business was ceasing to trade.


Gordon Brothers acquired the Clerys business back in 2012, with a structure that comprised a holding company and two subsidiaries which — besides OCS Operations — included another called OCS Properties, which owned the building.


In a statement Gordon Brothers said: “Gordon Brothers Europe, the European Advisory, restructuring and investment affiliate of Gordon Brothers Group, announces that it has completed the sale of OCS Investment Holdings, the owner of Clerys Department Store, for an undisclosed sum, to the real estate company Natrium Ltd.


So far, Natrium has made no comment as to its plans for the site.