New Dunnes and shops for Sligo

High-street fashion retailer Penneys is to redevelop its store in Sligo as part of Treasury Holdings' Sligo Town Centre scheme. Construction on the scheme will start later this year or early in 2011, with 500 jobs created during the construction phase and up 1,000 direct and indirect jobs created once the store opens.

"Treasury Holdings has agreed terms with Penneys for the redevelopment of their existing store in Sligo and for the integration of this store into the Sligo Town Centre project," Treasury Holdings director of development Niall Kavanagh said. "Solicitors have been instructed and it's hoped to complete contracts by the end of the first quarter, following which it is expected a planning application will be lodged for a major new Penneys store."

Full planning permission has already been granted for 25 shops and a new 6,000 sq m Dunnes.

Penneys is owned by Associated British Foods, which is controlled by the Weston family who also own Brown Thomas and Selfridges.