Shopping centre ‘squares up’ to its Christmas decorations spending

By Maurice Garvey

THE Square Shopping Centre, in Tallaght, has spent over €360,000 on Christmas decorations over two years.

It forked out €224,182 on Christmas decorations in 2017, making an overall spend of €364,660 for the two years.

The Square 30 1

The Square 

Last year, US private equity giant Oaktree completed its acquisition of The Square for €250 million.

New accounts for The Square Management Ltd, also show that essential fire-safety work, costing €1.57m, contributed to a pre-tax loss of €1.88m last year.

The accounts show that the firm recorded the loss as revenues increased by 3.3 per cent, to €7.08m from €6.85m.

The firm recorded the operating losses last year in spite of slashing its spending on Christmas decorations.

The new accounts give a detailed insight into the firm’s costings for the year to the end of September 2018, and show that the business spent €140,476 on Christmas decorations that year.

This represents a 37.5 per cent cut on the €224,182 on Christmas decorations in fiscal 2017.

The firm also spent €1.38m on security in 2018 – which was the biggest outlay on day-to-day costs.

The bill for The Square’s child soft-play area was close to €1,300 a week at €66,684 for the year.

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