Dunnes Stores winding up petition

lunacyfoundme

Has anyone been following this petition by NAMA and Holtglen to wind up Dunnes Stores in the face of non payment of a €21m court award?

I presume this is a pressure tactic to make them pay and that Dunnes isnt in danger of being wound up?

GavMan

I would presume so

Scortho

lunacyfoundme wrote: »

Has anyone been following this petition by NAMA and Holtglen to wind up Dunnes Stores in the face of non payment of a €21m court award?

I presume this is a pressure tactic to make them pay and that Dunnes isnt in danger of being wound up?

Dunnes are in no danger of being would up. As you said yourself its a pressure tactic.
From people I know who do work with them, Dunnes have always had a bit of a reputation of not paying on time. they do always pay in the end however

Damien360

Scortho wrote: »

Dunnes are in no danger of being would up. As you said yourself its a pressure tactic.
From people I know who do work with them, Dunnes have always had a bit of a reputation of not paying on time. they do always pay in the end however

This is a reality of Irish business. The bigger the client, the harder it is to get them to pay in a reasonable time frame. It has been happening to my employers for years. Small guys pay within 4 weeks, big guys could be 4 months with a lot of chasing.

NoQuarter

Scortho wrote: »

Dunnes are in no danger of being would up. As you said yourself its a pressure tactic.
From people I know who do work with them, Dunnes have always had a bit of a reputation of not paying on time. they do always pay in the end however

I'm sorry but there is a huge chance they will be wound up. If they dont pay by the 14th (and they probably wont) well then I dont see how they wont be wound up.

Scortho

NoQuarter wrote: »

I'm sorry but there is a huge chance they will be wound up. If they dont pay by the 14th (and they probably wont) well then I dont see how they wont be wound up.

Trust me Dunnes Stores arent going to be wound up over 20 million.
If they are to be wound up it'll be due to much worse debts that we're not aware of.

WhatNowForUs?

They have been very light on the advertising lately. I don't think they would have let it go that far if they had the money. New players in the market. Maybe feeling the pinch.

Sponge Bob

Have you ever thought that it might possibly even suit them to go into examinership so they can then break a stack of expensive leases they took out 2005-2008 and possibly find affordable...obviously before they lose control by being wound up.

But they are probably only very very late paying, yet again!!!

road_high

WhatNowForUs? wrote: »

They have been very light on the advertising lately. I don't think they would have let it go that far if they had the money. New players in the market. Maybe feeling the pinch.

I kind of agree. Their shops have kind of stood still and they do not at all carry the same range of products as others. Aldi and Lidl have made huge inroads into their traditional market share. Tesco have huge power and marketing muscle.
They have slipped big time and are always bottom of my list when it comes to shopping. Even Super Valu asnd Superquinn are far more appealing to me.

Scortho

Sponge Bob wrote: »

Have you ever thought that it might possibly even suit them to go into examinership so they can then break a stack of expensive leases they took out 2005-2008 and possibly find affordable...obviously before they lose control by being wound up.

But they are probably only very very late paying, yet again!!!

I was thinking that myself. It would make sense for them in a way, but surely then they'd have pushed for examinership rather than NAMA/holtglen going for a winding up order.

If a winding up order is issued, can a company apply for examinership afterwards?

If they do go into examinership or liquidation, Ben Dunne to the rescue?

Hawkeye123

lunacyfoundme wrote: »

Has anyone been following this petition by NAMA and Holtglen to wind up Dunnes Stores in the face of non payment of a €21m court award?

I presume this is a pressure tactic to make them pay and that Dunnes isnt in danger of being wound up?

If this is true - we are facing a very precarious future in this country. Here`s why:
1) Dunnes is wound up. NAMA will then own it.
2) Sinners and socialists will then say "We own Dunnes. We demand lower prices! It isn`t fair!"
3) The government will say "OK so. Cheap this, that and the other for the unemployed, oaps, handicapped, government cronies, etc, etc, etc,"
4) Tesco, Supervalu, Aldi, Lidl etc all experience loss of market share as the spongers descend on Dunnes in their droves.
5) Tesco, Supervalu, Aldi, Lidl etc close their stores and depart en masse.
6) Dunnes is the only grocery supplier and it is run by the government.
7)Dunnes staff demand parity of pay with the teachers and nurses.
8) Food queues, rationing etc become the norm as Dunnes Stores workers adopt the public sector work ethic.
9) A new iron curtain goes up to stop the mass exodus - those left behind in Ireland are on the wrong side of the curtain.

Denerick

18,000 employees. The state is not going to wind Dunnes Stores up over 20 odd million.

aN.Droid

Denerick wrote: »

18,000 employees. The state is not going to wind Dunnes Stores up over 20 odd million.

Just because they employ a large amount of people does not give them the right not to pay their debts.

This is a real danger for dunnes stores and if they do not pay up then it may just be curtains for them.

Denerick

Limericks wrote: »

Just because they employ a large amount of people does not give them the right not to pay their debts.

This is a real danger for dunnes stores and if they do not pay up then it may just be curtains for them.

Notice where I made no mention of the morality of it all.

If you believe your second paragraph then you clearly think the Irish economy is in the control of an emotionless robot incapable of seeing the bigger picture (Though now I think about that, that actually wouldn't be all that unlikely)

Atlantic Dawn

I'd be of the opinion that Dunnes would have €20 million in walking around money , no risk at all of them folding as a result.

hardCopy

Hawkeye123 wrote: »

If this is true - we are facing a very precarious future in this country. Here`s why:
1) Dunnes is wound up. NAMA will then own it.
2) Sinners and socialists will then say "We own Dunnes. We demand lower prices! It isn`t fair!"
3) The government will say "OK so. Cheap this, that and the other for the unemployed, oaps, handicapped, government cronies, etc, etc, etc,"
4) Tesco, Supervalu, Aldi, Lidl etc all experience loss of market share as the spongers descend on Dunnes in their droves.
5) Tesco, Supervalu, Aldi, Lidl etc close their stores and depart en masse.
6) Dunnes is the only grocery supplier and it is run by the government.
7)Dunnes staff demand parity of pay with the teachers and nurses.
8) Food queues, rationing etc become the norm as Dunnes Stores workers adopt the public sector work ethic.
9) A new iron curtain goes up to stop the mass exodus - those left behind in Ireland are on the wrong side of the curtain.

Seeing as our banks have consistently increased their charges since the state took over I can't see any danger of this happening.

sundula

Chance of them being wound up is very very very slim. Shame that NAMA had to push Dunnes this far to get them to pay. I know many who can't even get a response from them let alone money. I am very sure there are many suppliers with a slight smile on there face seeing Dunnes having to open there tight wallets.
They have driven many contractors and suppliers to the brink themselves and pushed some over. I personally think its good that somebody with the financial ability drag Dunnes before courts to show them up.

NoQuarter

Scortho wrote: »

Trust me Dunnes Stores arent going to be wound up over 20 million.
If they are to be wound up it'll be due to much worse debts that we're not aware of.

Trust you? Sure what do you know about it?

If Dunnes refuse to pay the money before the petition is heard they will be wound up. If they were going to pay they could have done it when they got all the demand letters from Holtglen/NAMA and before it went into the public domain.

The fact that it has gone this far would indicate that the chance of them being wound up is quite large. Is it the case that you think they are too big and too much a household name to be wound up? Because I can tell you that is wrong.

They have the money, they are not feeling the pinch, they just refuse to pay.

Scortho

NoQuarter wrote: »

Trust you? Sure what do you know about it?

If Dunnes refuse to pay the money before the petition is heard they will be wound up. If they were going to pay they could have done it when they got all the demand letters from Holtglen/NAMA and before it went into the public domain.

The fact that it has gone this far would indicate that the chance of them being wound up is quite large. Is it the case that you think they are too big and too much a household name to be wound up? Because I can tell you that is wrong.

They have the money, they are not feeling the pinch, they just refuse to pay.

Dunnes stores have a reputation for leaving payment until the last minute.
Now I dont have access to last years returns unfortunately but I can guarantee you that Dunnes Stores will not be wound up over 20 million.

if they are to be wound up, it'll will be due to underlying debts far in excess of 20 million. A company the size of Dunnes stores would be able to get an investor on board if there was no serious underlying debts.

Gordon brothers paid 15m for Clerys. Surely if 20m was the only problem with Dunnes, they'd be willing to pay that amount in order to buyout the company. Itd be one of the best value takeovers going.

So either Dunnes is playing call my bluff or it has more serious problems that we're not aware off!

NoQuarter

Scortho wrote: »

Dunnes stores have a reputation for leaving payment until the last minute.
Now I dont have access to last years returns unfortunately but I can guarantee you that Dunnes Stores will not be wound up over 20 million.

if they are to be wound up, it'll will be due to underlying debts far in excess of 20 million. A company the size of Dunnes stores would be able to get an investor on board if there was no serious underlying debts.

Gordon brothers paid 15m for Clerys. Surely if 20m was the only problem with Dunnes, they'd be willing to pay that amount in order to buyout the company. Itd be one of the best value takeovers going.

So either Dunnes is playing call my bluff or it has more serious problems that we're not aware off!

Oh absolutely. They never pay on time from what I gather. But I'm afraid you cant guarantee that, and there are no underlying debts. IF they are wound up, it will be because Kelly J. in the Commercial Court has no choice but to wind them up. Its a case of "can pay wont pay" and what are the Courts to do but wind up the company? Dunnes are already in breach of a High Court order. In my view, the integrity of the courts system will come before letting Dunnes off the hook.

If they dont pay, they will be wound up - mark those words.

Scortho

NoQuarter wrote: »

Oh absolutely. They never pay on time from what I gather. But I'm afraid you cant guarantee that, and there are no underlying debts. IF they are wound up, it will be because Kelly J. in the Commercial Court has no choice but to wind them up. Its a case of "can pay wont pay" and what are the Courts to do but wind up the company? Dunnes are already in breach of a High Court order. In my view, the integrity of the courts system will come before letting Dunnes off the hook.

If they dont pay, they will be wound up - mark those words.

I think we've both misunderstood each other:rolleyes:

Kelly does not like eejits messing him about thats for sure. If they dont pay it by the date, I can see someone getting them for a song.

One think for sure Dunnes should not be let off this debt. What would it say to any other company in the same situation. No company should be allowed renege on their debt just because their an employer! Then the whole system breaks down!

Without knowing the books, its hard to put a value on them, but surely they're worth more than 20 million? If it is as you say and they don't have any underlying debts, surely between the whole family and a few banks they'd muster up the money?

vicwatson

Asda/Walmart waiting in the wings

ezra_pound

Hawkeye123 wrote: »

If this is true - we are facing a very precarious future in this country. Here`s why:
1) Dunnes is wound up. NAMA will then own it.
2) Sinners and socialists will then say "We own Dunnes. We demand lower prices! It isn`t fair!"
3) The government will say "OK so. Cheap this, that and the other for the unemployed, oaps, handicapped, government cronies, etc, etc, etc,"
4) Tesco, Supervalu, Aldi, Lidl etc all experience loss of market share as the spongers descend on Dunnes in their droves.
5) Tesco, Supervalu, Aldi, Lidl etc close their stores and depart en masse.
6) Dunnes is the only grocery supplier and it is run by the government.
7)Dunnes staff demand parity of pay with the teachers and nurses.
8) Food queues, rationing etc become the norm as Dunnes Stores workers adopt the public sector work ethic.
9) A new iron curtain goes up to stop the mass exodus - those left behind in Ireland are on the wrong side of the curtain.

Good to see a budding Jim Corr among us! Don't give up the songwriting.

Scortho

vicwatson wrote: »

Asda/Walmart waiting in the wings

If i can find 20 m and access for a few hours to their books Scortho LTD will be waiting in the wings!:D

NoQuarter

Scortho wrote: »

Without knowing the books, its hard to put a value on them, but surely they're worth more than 20 million? If it is as you say and they don't have any underlying debts, surely between the whole family and a few banks they'd muster up the money?

I havent seen the books but I have a slight idea. I know they have 100+ properties free from any charges or encumbrances. Stores that rake in money in a weekend. Sure it costs upward of 7 million to fit out a store, and they do that enough.

I know they have the money, it was said on oath by counsel for Dunnes in the Commercial Court today. They just wont pay it. It will go down to the wire for sure.

Cookie_Monster

Atlantic Dawn wrote: »

I'd be of the opinion that Dunnes would have €20 million in walking around money , no risk at all of them folding as a result.

This, they're just being **** about it. They must make close to 500k profit a day, Tesco make near double that (or did in 2009 & 10) so I can't see it being that big an issue.

Scortho

NoQuarter wrote: »

I havent seen the books but I have a slight idea. I know they have 100+ properties free from any charges or encumbrances. Stores that rake in money in a weekend. Sure it costs upward of 7 million to fit out a store, and they do that enough.

I know they have the money, it was said on oath by counsel for Dunnes in the Commercial Court today. They just wont pay it. It will go down to the wire for sure.

And would you let all that go for the sake of 20 million? Theyre just teasing Nama and Holtglen because they know they can!
Kind of like Liars Poker!*








*unless its something really serious that no one knows about!

NoQuarter

Scortho wrote: »

And would you let all that go for the sake of 20 million? Theyre just teasing Nama and Holtglen because they know they can!
Kind of like Liars Poker!*








*unless its something really serious that no one knows about!

No, I wouldnt. I personally dont know what they are playing at. But it begs the question, if they are going to have to pay, which they will have to or face winding up, then why not do it before this got into the public domain!?

So it makes me think that there is a substantial chance of it happening. Either way, I'll be there on the 14th watching it.

Good loser

I believe they themselves were quick to resort to litigation - a la Ryanair.

Let them pay.

Hawkeye123

Denerick wrote: »

18,000 employees. The state is not going to wind Dunnes Stores up over 20 odd million.

You obviously underestimate the stupidity of the state.

NinjaTruncs

This isn't the only case of Dunnes pulling out of a agreement, they done the same in the Point Village. http://www.breakingnews.ie/ireland/point-village-begins-court-action-against-dunnes-stores-570099.html

I would imagine they don't want to set a precedent before the Point case is sorted.

NoQuarter

NinjaTruncs wrote: »

This isn't the only case of Dunnes pulling out of a agreement, they done the same in the Point Village. http://www.breakingnews.ie/ireland/point-village-begins-court-action-against-dunnes-stores-570099.html

I would imagine they don't want to set a precedent before the Point case is sorted.

Point case is finished already. Dunnes won the case.

Theboinkmaster

There'll be some sort of settlement. There's about as much chance as Dunnes being wound up as Ryanair. Very profitable, minimum debt and cash rich.

seamus

I don't think the judiciary would allow a "too big to be wound up" precedent to be set, the judge yesterday even hinted at that. 18,000 employees is a reason to tread carefully before doing anything rash, but if you protect Dunnes for the sake of the workers then other large companies (like Tesco) can take that lead to further bully their suppliers and hold out on paying for their contracts in the knowledge that the courts won't let them go down the pan.

I would never have thought that a retailer would be holding €21m in liquid assets, but others here seem very convinced that they do, so I'll bow to their greater knowledge.

Even in the event that they were wound up you wouldn't be long finding buyers for all or parts of their business as they occupy a lot of prime locations. So you wouldn't have 18,000 people instantly on the scratch.

galwaykev

I think they will be wound up. And in the near future dunnes will be no more. "Most" of the shops will remain open, although they will have a different name over the door. From 2006-2009 dunnes redeveloped and opened a massive amount of stores on the out skirts of towns. And this was done at a premium. Their debt must be very high.
In Galway alone they have 6 (i think) large stores. I am always amazed how quiet these are when I am in them.

If Dunnes are wound up it does not mean all the jobs will be lost. I guess the employees with have different employers soon........Just my thoughts.

Saying that I have no idea how their books look.

antoobrien

seamus wrote: »

I would never have thought that a retailer would be holding €21m in liquid assets, but others here seem very convinced that they do, so I'll bow to their greater knowledge.

They probably do have €21m in cash, but it'd be used for floats for tills across all the stores they have, so it's not readily accessible.

If Dunnes are forced to pay cash immediately they will probably have to borrow the money.

Damien360

antoobrien wrote: »

They probably do have €21m in cash, but it'd be used for floats for tills across all the stores they have, so it's not readily accessible.

If Dunnes are forced to pay cash immediately they will probably have to borrow the money.

When you think that Biffos buddy managed to borrow €84m with no business, I do not think that Dunnes will have to beg any bank for cash.

Dunnes state today that the reason for non-payment is "the site was an unmitigated disaster". I am curious why they think they can just walk away from a debt. Should due dilegence not have applied already ?

Theboinkmaster

galwaykev wrote: »

I think they will be wound up. And in the near future dunnes will be no more. "Most" of the shops will remain open, although they will have a different name over the door. From 2006-2009 dunnes redeveloped and opened a massive amount of stores on the out skirts of towns. And this was done at a premium. Their debt must be very high.
In Galway alone they have 6 (i think) large stores. I am always amazed how quiet these are when I am in them.

If Dunnes are wound up it does not mean all the jobs will be lost. I guess the employees with have different employers soon........Just my thoughts.

Saying that I have no idea how their books look.

You don't have a clue what you're talking about, they have no debt (just creditors and provisions). They own all their properties which they bought with cash.

antoobrien

Damien360 wrote: »

Dunnes state today that the reason for non-payment is "the site was an unmitigated disaster". I am curious why they think they can just walk away from a debt. Should due dilegence not have applied already ?

Well if the site was not finished up to the required standards then they should not have to pay over the entire amount - not sure what the status us with anchor tenats, but buildings are usually paid for in stages so there shouldn't really be 21m outstanding, if that was the full cost of their portion.

Regardless I believe Dunnes has the argument quashed by the high court in granting the order to pay.

It'd be interesting to see what the state of the site is, if the rest of the center is up to scratch.

Joe 90

antoobrien wrote: »

They probably do have €21m in cash, but it'd be used for floats for tills across all the stores they have, so it's not readily accessible.

If Dunnes are forced to pay cash immediately they will probably have to borrow the money.

I would honestly expect any big retailer to have a LOT of cash on deposit at any time. The customers pay when they buy their goods and the suppliers supply on credit. At one time, a long time ago when interest rates were high, it was said that a supermarket chain could in fact make a realistic profit from just the interest it earned.

Cookie_Monster

Joe 90 wrote: »

I would honestly expect any big retailer to have a LOT of cash on deposit at any time. The customers pay when they buy their goods and the suppliers supply on credit. At one time, a long time ago when interest rates were high, it was said that a supermarket chain could in fact make a realistic profit from just the interest it earned.

cash is placed on deposit overnight only in general* as the wages and creditor runs happen constantly. the gap between cust payment and supplier payments doesn't really matter so much as both still roll along constantly, plus tax (Vat is huge for retailers) payments, rents, building projects and possible cash movement to UK/EU (for example Tesco will centralise and transfer cash if one countries business needs it more at a particular time too)

SO while they generally would have cash on deposit, it wouldn't be that high I wouldn't imagine

* well certainly that's how I did it at a certain very large multinational grocery store chain that operates here)

_Kaiser_

mfitzy wrote: »

I kind of agree. Their shops have kind of stood still and they do not at all carry the same range of products as others. Aldi and Lidl have made huge inroads into their traditional market share. Tesco have huge power and marketing muscle.
They have slipped big time and are always bottom of my list when it comes to shopping. Even Super Valu asnd Superquinn are far more appealing to me.

Agree with this. There's 2 Dunnes Stores shops within 5 mins of my home, a mid-size (mostly groceries) one, and a larger store.

They're also my last resort (like yourself I find the local Supervalu is often better). I find Dunnes overpriced, poor range, very limited offers/poor value offers. Maybe that's because I'm currently living in what would be considered a "good" area in South County Dublin so maybe they figure they can gouge people around here for more?

For comparison though I was back on the north side of the city a fair bit this week and saved a fortune by calling into Tesco Clare Hall on the way home - I even have a voucher for 10c off each litre of diesel I next buy, which with a 70L tank, fairly high monthly mileage, and current prices isn't a bad deal!

Denerick

Kaiser2000 wrote: »

Agree with this. There's 2 Dunnes Stores shops within 5 mins of my home, a mid-size (mostly groceries) one, and a larger store.

They're also my last resort (like yourself I find the local Supervalu is often better). I find Dunnes overpriced, poor range, very limited offers/poor value offers. Maybe that's because I'm currently living in what would be considered a "good" area in South County Dublin so maybe they figure they can gouge people around here for more?

For comparison though I was back on the north side of the city a fair bit this week and saved a fortune by calling into Tesco Clare Hall on the way home - I even have a voucher for 10c off each litre of diesel I next buy, which with a 70L tank, fairly high monthly mileage, and current prices isn't a bad deal!

All price comparison studies have Dunnes as the cheapest option apart from the discounters. If you stick to the value lines they are as cheap as the discounters. The overwhelming majority of prices are nationwide so I think this is a problem of perception more than anything else (Which Dunnes clearly needs to tackle)

Lantus

seamus wrote: »

I don't think the judiciary would allow a "too big to be wound up" precedent to be set,

haven't we done that allready with bailing out the banks? Even in America, home of the die hard capatilist they effectively shored up some of there financial institutions, allowed a few to 'die' where the knock on effects had been contained and even propped up the motor industry.

The modern world is full of very large company's that are the size of small countries and simply cannot be allowed to fail.

I dont want to see Dunnes go and I agree that Tesco wouldn't need much encouragement to stand on the throats of as many people in its supply chain as it could if it would net them 1cent more profit.

I can see this being steered in another direction to avoid a do or die scenario. Its maddness to allow doomed developments to cripple other wise healthy companies irrespective of there intentions at the time.

WhatNowForUs?

Did Dunnes Stores put this company out of operation due to non payment?

annascott

I really wouldn't miss Dunnes at all.

Solair

I don't think Dunnes is likely to be wound up, although they are a private company (not limited, so don't have any requirement to publish) so you can't actually see their accounts in normal circumstances.


I would seriously doubt they're at any risk though as they've a huge chunk of the retail market here and are pretty seriously diversified across groceries, clothing etc. Also, if they'd wanted to exit the market and sell out, they would have had lots of lucrative offers, so I think they must be doing pretty well, despite the recession.

However, if they were wound up, the company would be snapped up by a major UK multiple overnight. There's no question about it!

ASDA / WallMart in particular would be in here in a flash.

Other EU outfits like Carrefour would probably be interested too.

So, from a jobs point of view, it really makes very little difference.

Also, from a consumer point of view, I doubt it would make much of a difference either as it would just see the brand replaced, not new competition.

Ireland could probably do with a new entrant to the main stream retail market to drive prices down as we only really have three players in the mainstream retail space : Tesco, Dunnes and Musgraves (SuperValu/SuperQuinn).

Lidl and Aldi are specialist hard discounters and while they have a role, they're not normal supermarkets in the sense that Tesco, Dunnes etc are.

If competition were to improve in Ireland, you'd need to see a 4th player like ASDA, Sainsbury's, Carrefour or whatever enter and the existing 3 big players to remain in the game too.

In comparison to most EU countries, we've very few supermarket chains.

seanaway

Bring in Carrefour PLEASE!!! Dunnes are not only ripping off the Irish consumer but the Irish producer as well. If the new guys on the block eliminate one of these rip offs at least sm1 will better off - probably and hopefully
both. Dunnes my A*s*!!!

Damien360

seanaway wrote: »

Bring in Carrefour PLEASE!!! Dunnes are not only ripping off the Irish consumer but the Irish producer as well. If the new guys on the block eliminate one of these rip offs at least sm1 will better off - probably and hopefully
both. Dunnes my A*s*!!!

But do you really think that any new competition will not look at the market and maximize their profit by just joining in the game. We do not have enough competition to eat in to one groups market share. If Dunnes sold to Carrefour tomorrow and they instantly gained 30% of the market, they would'nt be bothered dropping prices. We need a whole load of new operators all looking for a share of the existing pie, not removal of one operator to just replace with another.

Denerick

I don't know where people are getting this idea that Ireland has too few supermarkets. The overwhelming majority of market share is taken up by the big three (Asda, Tesco & Sainsburys) When you add in Morrisons, M & S and the Co-op, who are considerably smaller, the market therein is almost inconsequential. Serious lack of perspective here.

Solair

Compare it to a market with lower grocery prices like say, France.

You've several huge operators in the mainstream that operate across a wide variety of brands.

Auchan - Auchan / Atac / Simply Market
Carrefour - Carrefour / Champion / Marché Plus
Groupe Casino - including Géant and Monoprix.
Les Mousquetaires - including Intermarché/Ecomarché
Systeme U - Hyper U, Super U & Marché U
E. Leclerc
Louis Delhaize - Cora (Belgian chain)

and you've Aldi, Lidl and a few others.

Spain has a similarly long list.

So, to say the Irish market's lacking in supermarkets is not an understatement.

The UK's market isn't exactly brimming with competition either to the point that the UK Government actually became concerned about it and has had several competition enquiries into the industry.

So, the comparison with the UK is really not a good indicator of health!

In the mainstream section in the Republic you effectively have three players:

Tesco
Dunnes
Musgraves - T/A SuperValu/SuperQuinn

and Musgraves seems to position itself more on convenience / luxury end of the market than in the head-to-head price competition that's more a Tesco & Dunnes thing.

Aldi and Lidl are not mainstream supermarkets in the sense that they stock limited, varying ranges and are hard discounters. They have their place, but we do not have anything remotely approaching the same level of competition found in other markets in Europe and it is reflected in higher prices.

http://www.independent.ie/national-news/food-prices-make-us-fifth-dearest-eu-nation-3147115.html

"Ireland is the fifth highest priced country in the EU for food and non-alcoholic beverages. In contrast, farm-gate prices are on a par with other European countries," said IFA president John Bryan.