JACK NEALON’S BAR on Capel Street is set to close next month after over a hundred years in operation, due to a decision by a foreign vulture fund.
The popular and well-known pub on Capel Street close to the Quays in Dublin city centre will permanently shut its doors on 17 April.
A member of staff confirmed to TheJournal.ie that the pub would be closing, with the loss of eight jobs. They said staff were distraught with the move.
The lease on the pub is owned by Total Stock Control Ltd, which is operated by Vincent and Alan Waters.
The Irish Times reports that the lease holders informed staff on Monday that the foreign investment firm which controls the debt on the property has directed the owner that they wish to take back control of the building and will no longer be operating it as a bar.
According to the Irish Times, north-American vulture fund Oaktree acquired the loans on the building from Nama as part of a large portfolio of property loans with a value of €4.7 billion known as Projects Ruby and Emerald.
TheJournal.ie has contacted Oaktree for comment.
Historic bar
Dubliners and other bars and restaurants in the area reacted with dismay to the news that Nealon’s was to close.
“Terrible news. Lovely Nealon’s Bar on Capel St is to close down in April. Vulture fund. All staff laid off,” tweeted barrister Colm O’Dwyer.
The Bull and Castle on Dame Street said:
What a shame to lose some history – Dublin pub Jack Nealon’s set to close after a century.
Many other customers vented their frustration at the upcoming closure, questioning the decision by the vulture fund.
According to an architectural survey of the building in which Nealon’s operates, it was first built in 1867 for by Charles Geoghegan for the wine and spirit merchant John O’Connor.
It is a busy and popular spot with a diverse crowd. Barristers from the nearby Four Courts, locals living in the area, and members of the LGBT community frequent Nealon’s regularly.
The pub is also hub for a number of poetry and live music nights.
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