Press Up: Where did it all go wrong?
Since 2007 the Press Up hospitality group has been a key and highly visible player in Dublin’s social scene with super-stylish restaurants, popular nightclubs and bars and a cinema.
Founded by old schoolfriends Matt Ryan and Paddy McKillen jnr it changed the face of dining out in the capital, growing fast by developing its own restaurants and buying existing, successful operations including Wagamama, Elephant and Castle and Wowburger. The group also built a large property portfolio.
But its borrowings were onerous and in a debt-for-equity restructuring, Cheyne Capital, a London-based finance…
The skinny
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