The Press Up Entertainment hospitality group has called off a plan to raise as much as €50 million through the sale of a 45% stake in its business to investors.
The plan was called off by Press Up owner Paddy McKillen jnr and his business partner, Matt Ryan. Their decision is understood by The Irish Times to have been informed by their belief that their vision for the group was not shared by prospective suitors.
Trading Operations Only
The planned share sale related only to Press Up's trading operations and did not involve any of the properties in which the group operates its bars, restaurants and hotels, which are predominantly situated in buildings delivered by McKillen jnr and Ryan's independently-operated development business, Oakmount.
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