Press Up group unveils new name

The new name is a play on the word “eclectic”, which means “coming from a broad range of sources”, emphasising how the company operates a variety of restaurants, bars and a cinema. It employs 850 people across 24 venues in Dublin.

Last year the group was taken over by Cheyne Capital, a London-based finance firm, in a debt-for-equity swap. Press Up was originally formed in 2009 by Paddy McKillen Jnr and Matt Ryan.

Under the terms of the deal, Mr McKillen retained a seat on the board and kept a stake of 10pc with Cheyne Capital taking the rest. Mr Ryan is no longer involved with the group.

Company filings suggest Cheyne has put a valuation of €25m on its share. It had been reported last year that Press Up owed the London firm up to €45m at one point.

Announcing the takeover, Mr McKillen had said it was a source of pride to him how Press Up had introduced “authentic concepts to the Dublin cityscape”, such as the Stella Cinema in Rathmines and the Workman’s Club in Temple…