The High Court has approved restructuring proposals involving a €2.5 million cash injection to salvage The Workman’s Club and save 360 jobs. The finance comes from Eagle Edge Connect, a holding company in the Eclective Hospitality group (formerly Press Up), founded by Paddy McKillen Jr, that is now 95 per cent controlled by secured lender Cheyne Capital. Eagle Edge has been the historic vehicle for debt investment by Cheyne into the group. On top of the equity subscription, Eagle Edge will advance a €10 million payment-in-kind investment loan over a five-year term, secured by a fixed and floating charge over…

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