The property developer’s central Irish holding entity has agreed to guarantee part of the liabilities being restructured by his son’s hospitality business with lender Cheyne Capital – for a fee.
Changes are being made to schemes like EIIS and how capital gains tax applies to angel investors. Unscripted TV is getting its own tax credit. And hospitality is none too pleased.
Thomas Rody Mahers’s and Ashton’s pubs no longer operate as part of Press Up and Wagamama restaurants are closing down with immediate effect – though some may reopen.
The clash between Irish property and hospitality heavyweights is over a pub in Athlone.
The Dead Rabbit group has the potential to become “one of the biggest Irish pub companies in America,” says its managing director Jack McGarry after launching its first bar outside of New York.
The circumstances that caused Cheyne Capital’s enforcement against Press Up have been well documented. What shouldn’t be lost, when the dust settles, is the positive impact that the group has had on Dublin.
British alternative lender Cheyne Capital is owed €45m by companies within the wider Press Up hospitality group. It has now installed accountants from KPMG as receivers over three of the group’s restaurant chains.
Family-owned Moran Hospitality is best-known for the Red Cow Moran Hotel and the Red Cow Inn. But now they've taken over a popular gastropub near the Aviva stadium.
Cheyne Capital has sent in senior experts to turn Press Up around. A forensic investigation of the hospitality group's financial structures examines if there is still time.
The serial food entrepreneur behind Itsa Bagel and The Commons café explains how being pragmatic and flexible has allowed her business to thrive.
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