The ruthless reality of vulture funds: Small businesses at their mercy in Ireland

Clonmel’s Now clothes shop was targeted by a vulture fund after the sale of Tony Kenny and Joan McEneff’s loans without their consent. The couple have been running retail fashion shops in Clonmel for more than 30 years, but ended up at the High Court after their store was illegally evicted by security personnel dispatched by a receiver. Their premises was closed for two weeks before they regained control, but the threat of eviction still hangs over them. The sale of loans to vulture funds has become controversial in Ireland, with interest rates often hiked on loans to homeowners or businesses.