Neil Hughes of Baker Tilly Accountants has been appointed as interim examiner to PBR Restaurants Ltd by Mr Justice Senan Allen.
Based in Dublin, PBR Restaurants Ltd operates Ouzos restaurant of Dalkey as well as Kelly & Coopers gastropub of Blackrock, the Fish Shack on Dun Laoghaire's East Pier, and the Fish Shack cafés in Sandycove, Malahide and on Parliament Street in Dublin city centre.
Difficulties
According to The Irish Times, the High Court was told that the firm has experienced difficulties as a result of pressures related to cash flow, the cost of funding short-term loans and a breakdown in relations between its directors.
A Chance Of Surviving
The court was also told that an independent expert said that if a scheme of arrangement with PBR Restaurants' creditors can be put together by the examiner, the firm has a reasonable chance of surviving.
The firm's creditors include Revenue, to which it owes €302,000.
PBR Restaurants applied itself to have Hughes appointed as its examiner, and counsel stated that it envisages that he will take steps, such as making attempts to bring new investment into the firm, to ensure its survival.
The case is due to return to the High Court in September.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.
