Eason is Irelands leading books, stationery, news and magazines retailer with a portfolio of 60 stores nationwide and employing approximately 800 people. Eason Limited had a turnover of €109m in the year ended January 2018, with a profit after tax and restructuring costs (€3.3m) of €0.7m. The profit after tax for the year ending January 2019 is expected to be approximately €3m bringing the balance sheet value to c.€6m. Full accounts for 2018 and draft accounts for 2019 are available on request.
A parent company guarantee from Eason Operations Limited (EOL) will be provided for 10 years. This is a newly incorporated parent which has zero borrowings and holds €17m cash on its balance sheet in addition to £2.5m GBP of unencumbered property in Northern Ireland. This guarantee will be limited in terms of financial exposure to 2 years’ rent. Full draft accounts for EOL are available on request.