THE FAMILY spat within the Shaws retail chain continues to rumble on about 15 months after shareholder Sheila Shaw served her nephew and company managing director Jonathan Shaw with legal notice of her intention to sell her holding.

Protracted talks between the two sides took place but appear to have broken down completely.

The company had its annual meeting on October 5th and sources tell me that Sheila’s sons – Clive and Norman – have served similar legal notices on the company.

Sheila Shaw and her sons own about 30 per cent of the business between them. Their shares are now effectively in play, although other shareholders have pre-emptive rights to buy them.

Shaws has 15 department stores and was valued last year at about €90 million. It now appears to be heading for a messy divorce.