Veritas to close…
The Journal reports:
VERITAS HAS ANNOUNCED it is set to wind down its business operations and close its retail outlets.
It is Ireland’s leading religious publisher and retailer of religious goods, with seven shops across the island of Ireland and a warehouse facility in Blanchardstown.
Veritas today said it “envisages closing all seven remaining retail locations plus the warehouse facility by the end of 2024″.
However, it will “operate on a business-as-usual basis in the meantime” and that the wind down will be completed in a “controlled and orderly manner” with the assistance of a loan from the Irish Episcopal Conference.
Veritas was founded in 1899 to publish religious books, pamphlets and materials for the market in Ireland.
It opened its first store on Lower Abbey Street in Dublin in 1928, and this location today also serves as its head office.
Veritas employs around 80 people across its publishing, education and retail outlets.
In a statement today, Veritas said it intends to “begin a wind down of the business in a controlled and orderly manner”.
It added that the decision follows a “comprehensive strategic review of the business which determined that the alternative of a restructuring process would not mitigate the challenges that exist or sufficiently improve the commercial prospects of the business”.
Veritas added that it has “experienced a significant and sustained business downturn in recent years” which has “impacted both the competitiveness and commercial viability of the business”.
Veritas added that it is still in the process of determining options for the continued publication of titles that form part of the syllabus for many primary schools and that it is “confident a solution will be found”.
Chris Queenan, chairperson of Veritas, described it as a “highly unfortunate situation which we are acutely aware will impact our employees, customers, and the communities we have served for close to 100 years”.
He added: “We are committed to an orderly wind down process where our focus will be on supporting our colleagues during this challenging time.”
The Irish Catholic Bishops’ Conference today said that Veritas has “served the publishing and catechetical needs of the Irish Episcopal Conference very well for many years”.
It added that the decision to begin the wind down and closure of its business operations, including its retail stores, “represents a great loss to the Church in Ireland”.
“We understand that Veritas has made this very difficult decision following a number of years of challenging trading conditions, but today’s announcement brings especially sad news for Veritas employees as well as the many customers and friends of Veritas,” added that statement.
Statement from the Irish Catholic Bishops Conference:
| Bishops respond to the announcement of the forthcoming closure of Veritas Communications CLG |
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| In a statement responding to the announcement today of the commencement of the closure of Veritas Communications CLG, Bishops said, “Veritas Communications CLG has served the publishing and catechetical needs of the Irish Episcopal Conference very well for many years and the decision to begin the wind down and closure of its business operations, including its remaining retail stores, represents a great loss to the Church in Ireland. “We understand that Veritas has made this very difficult decision following a number of years of challenging trading conditions, but today’s announcement brings especially sad news for Veritas employees as well as the many customers and friends of Veritas throughout the country and beyond. Our thoughts and prayers are with all of those who are directly impacted by today’s announcement.” ENDS Notes for EditorsVeritas had its origins in the Catholic Truth Society of Ireland, which was founded in 1899 to publish religious books, pamphlets and materials for the market in Ireland. Prior to that, all such materials came from England. In 1928, the Veritas company was formed to take over the commercial aspect of the Catholic Truth Society. |