Nealons Pub being shut by Vulture Fund

The Humble Sausage

Vulture funds are at it again. Nealons pubs on Capel St is being shut down after over 100 years in business.
US private equity firm Oaktree Capital Group is shutting it down in spite of the bat still being successful. Stinks. Something similar happened with Clearys. Not sure if much can be done to stop this crap:mad::mad::mad:


http://www.irishtimes.com/news/ireland/irish-news/dublin-pub-jack-nealon-s-set-to-close-after-a-century-1.3004581

Elemonator

That's business. I'd be more upset about the history of the Azure Window in Malta which just collapsed.

People can give out about this but its the cornerstone of the capitalism that we all benefit and suffer from daily.

Nonetheless, it is a shame.

Arthur Daley

Had a nice roaring fire in there. While you nursed a few pints on a cold january night.

Arthur Daley

You think location is out of the way. Buy it's only a short hop away from temple bar and a bit more to dame st. So if you want a pint in a place that isn't a super pub and only slightly off the beaten track it is actually a good option.

The Humble Sausage

Its never been a quiet pub. Solid custom. Good barmen. Also, capel st is busier now than its ever been.

The Humble Sausage

Perhaps so, hope youre right.

sugarman wrote: »

I cant see the dodgy chinese phone shops, dodgy takeaways or charity shops that line the street paying top dollar for retail space is all I meant.

It wont get any better business than a pub, and certainly not if they turn it into something its not.

newacc2015

sugarman wrote: »

I cant see the dodgy chinese phone shops, dodgy takeaways or charity shops that line the street paying top dollar for retail space is all I meant.

It wont get any better business than a pub, and certainly not if they turn it into something its not.

Were you last there is 2004? If so, I suggest you take a walk down it this weekend. Just be careful when crossing the road you dont get knocked down by a BMW or Mercedes. There is a lot of wealthy people who eat and drink on the street now...

There is literally one Chinese phone shop on the street. There is not a single takeaway on the street. There are restaurants you can takeaway though. Can I ask what is dodgy about authentic Chinese for you? A bit too exotic? There are so charity shops, but there is a ton of them on Georges St too. I honestly don't think you have been to Capel St this side of 2010.

Capel St has a ton of amazing restaurants that have opened in the last 10 years eg Brother Hubbard, Musashi, etc. There is Panti that is always packed, there is the Black Sheep which is also packed.

Nealons will be snapped up by a Chain. Capel St is literally 5 mins walk from Temple Bar and 15 mins walk from Westmoreland St. You are making out it is run kip in the Liberties with no future ages away from the City.

I dont know what lack of footfall you are on about. O Carrolls have just opened a store on Mary St close to it. The area is so busy

Love2love

As all the staff are told they'all be losing their jobs, as far as I know, it can't be reopened as a pub for a significant time. Probably more apartments / student accommodation.

Del2005

Elemonator wrote: »

That's business. I'd be more upset about the history of the Azure Window in Malta which just collapsed.

People can give out about this but its the cornerstone of the capitalism that we all benefit and suffer from daily.

Nonetheless, it is a shame.

You're more upset about a natural phenomenon of a sea arch collapsing than people potentially loosing their jobs

dudara

Just remember that real root cause is the excessive loans and guarantees taken out by Irish business people during the boom. These then got sold on and here is the inevitable consequence.

It is a sad story and I hope that something changes. 9 staff to lose their jobs IIRC

L1011

Love2love wrote: »

As all the staff are told they'all be losing their jobs, as far as I know, it can't be reopened as a pub for a significant time. Probably more apartments / student accommodation.

Redundancy time constraints don't apply if a complete new owner comes in. The site is not large unless they have adjoining properties so redeveloping would be unlikely

Love2love

L1011 wrote: »

Redundancy time constraints don't apply if a complete new owner comes in. The site is not large unless they have adjoining properties so redeveloping would be unlikely

Oh really? That's good I suppose. I was under the impression that if it was to remain as a pub, then they would have to keep the existing staff on.

OldGoat

Perhaps Pantibar is expanding. I can only hope that she calls it "New Boots".

I love Capel St. as it now is, slightly seedy but full of life. It's like Temple Bar was back in the day before stag parties found it and the vintners cashed in.

BonnieSituation

sugarman wrote: »

Given its location, I really can't see them closing it... Or at least changing of use.

It's too out of the way, in an area with very little footfall to be anything other than a pub.

Have you been to Capel St at any point since 1972? The place is humming.

Sebastian Dangerfield

Sad that people are losing jobs but the way Dublin is at the moment, no capable bar person will be out of work more than a week should they choose not to be.

Sebastian Dangerfield

Sebastian Dangerfield wrote: »

Sad that people are losing jobs but the way Dublin is at the moment, no capable bar person will be out of work more than a week should they choose not to be.

I haven't seen a staff wanted sign in a while in Dublin Pubs.

Its not like it's 2001 all of a sudden!

Sebastian Dangerfield

Deleted User wrote: »

I haven't seen a staff wanted sign in a while in Dublin Pubs.

Its not like it's 2001 all of a sudden!

I've seen plenty! Cant state where as fact from memory, but I walk around Nassau Street, Baggot Street and South William St most days and have seen a good few signs in recent weeks.

Tombo2001

I think to be fair, there may have been a pub there for 100 years but it hasn't been Nealons for 100 years. I preferred it when it was the George Frederic Handel around 15/20 years ago. Preferred the layout then, and they had some smashing live music, they had a great jazz singer on Friday nights.

The new bar (well 10 years old or whatever) is quite nice also. No doubt it will re-open in 6 months under new ownership.

I wouldn't compare it to losing Clerys. Not the same thing at all.

A more valid comparison, and one that I think is a huge loss, is JJ Smyths changing hands and shutting down the jazz bar upstairs. Afaik, that's nothing to do with the pension funds that you are calling vulture funds, whatever that means. JJ Smyths is just change of ownership; but same principle - the owners think its should be more profitable so they are changing things.

In general though, I'd have a fairly strong view that where a shop or restaurant or bar has been part of the Dublin scene for 30/40 years or more, and if it has heritage value - then it should be protected and get preferential rates.

For example, what if someone bought the Stags Head and decided to 'modernize' it. Or Trocadero.

Tombo2001

OldGoat wrote: »

Perhaps Pantibar is expanding. I can only hope that she calls it "New Boots".

I love Capel St. as it now is, slightly seedy but full of life. It's like Temple Bar was back in the day before stag parties found it and the vintners cashed in.

That's a while ago now - the Stag Parties have been in Temple Bar since the early 1990s. 25 years.

OldGoat

Tombo2001 wrote: »

That's a while ago now - the Stag Parties have been in Temple Bar since the early 1990s. 25 years.

Yeah, I'm fierce long in the tooth. Back then the Templebar was full of short lease properties cos CIE were planning to turn it into a depot (I think). The only business interested in short leases were second hand book/record shops, small cafes, craft shops, music centres and so on, no mainstream business.

Then people saw how popular the area was with students, locals and tourists and decided to tart the place up, ramp up the prices and fill it with generic tourist shops. Basically they tore the heart out of it and it turned into that horrific tourist trap we see today.

Tombo2001

OldGoat wrote: »

Yeah, I'm fierce long in the tooth. Back then the Templebar was full of short lease properties cos CIE were planning to turn it into a depot (I think). The only business interested in short leases were second hand book/record shops, small cafes, craft shops, music centres and so on, no mainstream business.

Then people saw how popular the area was with students, locals and tourists and decided to tart the place up, ramp up the prices and fill it with generic tourist shops. Basically they tore the heart out of it and it turned into that horrific tourist trap we see today.

ironically, this is exactly the ecosystem that every 'cultural capital' aspires to having; we just didn't realise it had value at the time.

Isnt it shocking that they would have considered putting a bus depot there. Its unreal sometimes to walk around the centre of Dublin an observe some of the planning decisions that have been made.

L1011

Tombo2001 wrote: »

A more valid comparison, and one that I think is a huge loss, is JJ Smyths changing hands and shutting down the jazz bar upstairs. Afaik, that's nothing to do with the pension funds that you are calling vulture funds, whatever that means. JJ Smyths is just change of ownership; but same principle - the owners think its should be more profitable so they are changing things.

I wasn't aware JJs had reopened (I don't go to the southside much), but they still have jazz and blues on their gigs list?

Tombo2001

L1011 wrote: »

I wasn't aware JJs had reopened (I don't go to the southside much), but they still have jazz and blues on their gigs list?

There was a recent newspaper article saying the bar has changed hands and that they will close the jazz bar.

humberklog

Tombo2001 wrote: »

A more valid comparison, and one that I think is a huge loss, is JJ Smyths changing hands and shutting down the jazz bar upstairs. Afaik, that's nothing to do with the pension funds that you are calling vulture funds, whatever that means. JJ Smyths is just change of ownership; but same principle - the owners think its should be more profitable so they are changing things.

When did this happen? I was only having a pint in there this week and chatting to Brian, (JJ's son), and there was still no mention of anything concrete happening.

Also JJ's is quite different as it's a pub that wants to be sold by the whole family. It's openly attempting to sell itself.

L1011

Did it actually shut at all, if they haven't sold it yet?

OldGoat

(Off topic I know)
On the jazz scene, Arthurs on Thomas St is developing nicely.

Thomas St is another of those streets that offers hidden treasures for those who are willing to venture there.

humberklog

L1011 wrote: »

Did it actually shut at all, if they haven't sold it yet?

It never shut anyway.

There was a buyer lined up and it was to close before Xmas. However the deal stalled and it was kept going, regular gigs too. The doors never shut.

pilly

The Humble Sausage wrote:

Vulture funds are at it again. Nealons pubs on Capel St is being shut down after over 100 years in business. US private equity firm Oaktree Capital Group is shutting it down in spite of the bat still being successful. Stinks. Something similar happened with Clearys. Not sure if much can be done to stop this crap

To be fair Clearys wasn't making money.

Ciaran_B

Capel St. is legit one of the best streets in the City. I love walking up it.

testaccount123

How anyone could think Capel St is anything other than buzzing and vibrant is beyond me. Have these people been to other cities?

Tombo2001

testaccount123 wrote: »

How anyone could Capel St is anything other than buzzing and vibrant is beyond me. Have these people been to other cities?

Don't get ya

Birneybau

Tombo2001 wrote: »

Don't get ya

It's buzzing, how anyone would think otherwise...

Elemonator

Del2005 wrote: »

You're more upset about a natural phenomenon of a sea arch collapsing than people potentially loosing their jobs

Plenty of pub jobs out there, only one sea arch with millions of years of history.

And culture.

And tourism.

Employment, both direct and indirect.

Preservation of wildlife.

Which one do you think I should be more concerned about?

ongarboy

I was in Nealons yesterday with a mate and only heard it then too. It's a shame as I always enjoyed a pint there and the open fire was lovely on cold winter nights. I wonder what new business will replace it?

I love Capel Street's quirkly, shabby chic vibe and think it has such potential that many businesses, particularly restaurants, have already tapped into. My only gripe is that hideous corner opposite Nealons that used to be a Nirvana head shop or sex shop and was burned down. It is such an eyesore but there doesn't seem to be any plans to do anything with it that I'm aware of. That really needs to be attended to.

newacc2015

sugarman wrote: »

Jesus, relax.. only giving my own 2c

I walked up and down the street daily for 8 years straight going to college, and still do so regularly.

I just can't understand why people have to **** all over Dublin City. If you call someone out on it, they suddenly get super defensive about it.

The north inner city has been rough around edges for the last 100 years. People refuse to cut it some slack. Sure even Camden and Aungier St was a total kip until a few years ago. It is just because it is on the southside people seem to cut it some slack

sugarman wrote: »

The only units on that Street doing great business, and IMO the only thing really drawing people to the street IS the likes of Pantibar, Nealons, Boars head, blacksheep etc..

Sure, Capel is basically on Henry/Mary st, but ever notice the point when you're walking down Henry st towards Capel st at which shoppers will disperse.. often turning around and walking the opposite direction? It's usually at the corner of Jervis / The church for most.

A lot of restaurants on Capel St you can get a table at eg Musahi, Brother Hubbard etc. Irish people refuse to eat authentic Chinese, so no one acknowledges the packed Chinese Restaurants on the street

Capel St is literally the end of the CBD officially. If you get to the end of a central business district of anywhere in Europe, the city starts to get a bit empty.

The biggest problem Capel St has is the perceived notion it is a kip. Even people who walk down it everyday for nearly a decade seem to think it is non-existent take-aways and Chinese phone shops....

sabat

I really hope they paint it grey, give it a name like The CapelBeerHäus written in typewriter font, have bare filament lightbulbs and exposed brickwork inside and then hire characterless egotists with beards and arm tattoos in black teeshirts to serve overrated and overpriced "speciality" booze. Dublin needs more places like that.

ThisRegard

sabat wrote: »

Dublin needs more places like that.

It does actually, you can never have enough places with a good range of craft beer.

pauliebdub

It's a pub I've often visited and I will miss it. I'm struggling to think what it could be turned into? The building is protected, internally and externally, I don't think it has much space for a kitchen which would rule out a restaurant, it's probably too small for the likes of wetherspoons to take it over, I'm really hoping that it doesn't turn into another Starbucks. That's the last thing we need.

testaccount123

sabat wrote: »

I really hope they paint it grey, give it a name like The CapelBeerHäus written in typewriter font, have bare filament lightbulbs and exposed brickwork inside and then hire characterless egotists with beards and arm tattoos in black teeshirts to serve overrated and overpriced "speciality" booze. Dublin needs more places like that.

I'd be quite happy for somewhere with good beer and food to replace Nealons, a pub I'd never even heard of until this thread.

How many dingy aul fellas pubs all serving the same ****e beer do we need?

humberklog

There aren't that.many dingy aul fella pubs in the main commercial districts though. Nealon's was certainly neither dingy or aul fella btw.

I would doubt that Nealon's will change from being a drinking and eating place, the building really wouldnt be suitable for much else. Whether that's craft beer or not.

Lux23

humberklog wrote: »

There aren't that.many dingy aul fella pubs in the main commercial districts though. Nealon's was certainly neither dingy or aul fella btw.

I would doubt that Nealon's will change from being a drinking and eating place, the building really wouldnt be suitable for much else. Whether that's craft beer or not.

They said it isn't going to be a pub anymore. It is odd though because if it is a protected structure what else can they do with it without changing it a good bit?

Ben D Bus

testaccount123 wrote: »

I'd be quite happy for somewhere with good beer and food to replace Nealons, a pub I'd never even heard of until this thread.

How many dingy aul fellas pubs all serving the same ****e beer do we need?

If you've never heard of it before how do you know it's a dingy aul fellas pub?? It's nothing of the sort!

It's a friendly pub, with people of all ages, popular with the LGBT crowd without having to be a gay bar.

It has a nice open fire. And they do proper toasties!

I also book their upstairs function room once a month and all they ask is that we buy a few drinks.

I'll struggle to find another venue as suitable.

Capel St has character and diversity. Certainly rough around the edges but full of life and activity. Exactly what you want from a city.

Birneybau

testaccount123 wrote: »

I'd be quite happy for somewhere with good beer and food to replace Nealons, a pub I'd never even heard of until this thread.

How many dingy aul fellas pubs all serving the same ****e beer do we need?

Ridiculous

L1011

Staff have told me the new owners may be continuing operation with the same staff. No guarantee as yet.

Noddyholder

I remember it was called the Kingsway, that was back in late 70,s . It closed down for a while, then Republicans took it over & it closed after a year or two, I moved on & that's all I know, Its nice to share :-)

ollaetta

Noddyholder wrote: »

I remember it was called the Kingsway, that was back in late 70,s . It closed down for a while, then Republicans took it over & it closed after a year or two, I moved on & that's all I know, Its nice to share :-)

Long time since I heard that name. Here's a pic of it and a later one when it was the Earl Grattan:

Passenger

Looks like it's to remain open under new management. Link

L1011

Popped in, some new staff. Apparently Eddie is gone

Jesus Wept

It'd make a lovely Starbucks.