Revenue Sues Press Up Founder Paddy McKillen Jr
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Eclective Hospitality Group: From Press Up to New Ownership and Legal Challenges
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The Irish hospitality group formerly known as Press Up Group has undergone a significant restructuring, including a change in ownership and ongoing legal disputes involving its principal, Paddy McKillen jnr.
From Press Up Group to Eclective Hospitality Group
The company, initially known as Press Up Group, experienced substantial growth under the leadership of Paddy McKillen jnr. it expanded its portfolio to include over 50 venues and approximately 2,000 employees, featuring establishments like Wagamama and the Workman’s Club, as reported by The irish Times.
The group also included a chain of hotels, which was divested in 2023. In 2023, the principals of Press Up Group reached an agreement with London-based investment firm Cheyne Capital. This deal involved a debt-for-equity swap, resulting in Cheyne Capital acquiring a majority equity stake in the group. Following the acquisition, the group was rebranded as the Eclective Hospitality Group.
Legal Dispute and Revenue Commissioners Action
Paddy McKillen jnr is currently involved in a separate legal dispute in the Commercial Court concerning the possession of three Dublin office properties. This dispute centers around allegations of rent arrears, as detailed by The Irish Times.
Moreover, the Revenue Commissioners have applied to the High Court for a summons against McKillen jnr, according to the same report. The specific details of the Revenue Commissioners’ submission were not immediately available in the source material.