High Court appoints interim examiner to Workman's Club operator
The High Court appointed an interim examiner to Workman's Club Ltd, part of the former Press Up hospitality group founded by Patrick McKillen junior and Matthew Ryan, on foot of a petition for court protection on 2 May 2025 in Dublin. The immediate trigger was a demand for some €4.5m received on 7 March under guarantees to financiers RELM Capital, after which Patrick McKillen junior and Liam Cunningham were removed as directors on 28 April. Ms Justice Eileen Roberts appointed Declan McDonald of PwC Ireland as interim examiner. An independent expert told the court the company has a reasonable prospect of survival if the Odessa Club lease is surrendered and at least €2.4 million is invested to restructure the balance sheet.
- Reportednot reported
- Arrestednot reported
- Chargednot reported
- In court2 May
- Verdict
- Sentenced
Key facts
consolidated from all reports- What happened
- The High Court appointed an interim examiner to Workman's Club Ltd on foot of a petition for court protection.
- Where
- The company operates the Workman's Club, a bar and live music venue on Wellington Quay, Dublin, near Temple Bar.
- When
- Ms Justice Eileen Roberts made the appointment on 2 May 2025.
- Cause
- The immediate cause of the application was a demand for some €4.5m received on 7 March under guarantees to financiers RELM Capital.
- Investigation
- The company has an excess of liabilities over assets and is unable to pay debts as they fall due.
- Other details
- Patrick McKillen junior and Liam Cunningham were removed as directors on 28 April 2025.
- Press Up at its height operated some 50 bars, restaurants and hotels with 1,600 employees and was refinanced to the tune of €55.5 million by Cheyne Capital in October 2021.
- Cheyne Capital took over management in July 2024 after discovering depleted stock levels, substantial arrears to suppliers, deferred maintenance and limited reinvestment.
- Guarantees of some €10 million were given to entities outside the Press Up group, almost entirely related to properties owned by companies controlled by Patrick McKillen junior.
- The company made a formal open offer of €250,000 in full and final settlement of its debt but this was rejected by RELM.
- The company owns the Odessa Club property in Dame Street under a lease from Goldstein Property ICAV, which has not traded since 2017, and has arrears of €50,000 for first quarter rent.
- The company has some €6.3 million in warehoused tax liabilities but has been adhering to an agreed monthly repayment plan with Revenue.
- In court
- Independent expert Alan Large of EY said the company has a reasonable prospect of survival if the Odessa lease can be surrendered and at least €2.4 million is invested to restructure the balance sheet.
13 statements extracted from the articles
- courtMs Justice Eileen Roberts appointed Declan McDonald of PwC Ireland as interim examiner. (irishtimes.com)
- otherThe company has an excess of liabilities over assets and is unable to pay debts as they fall due. (irishtimes.com)
- otherThe immediate cause of the court application was a demand for some €4.5m received on March 7th under guarantees to financiers RELM Capital. (irishtimes.com)
- otherPatrick McKillen junior and Liam Cunningham were removed as directors on April 28th. (irishtimes.com)
- otherPress Up at its height operated some 50 bars, restaurants and hotels with 1,600 employees. (irishtimes.com)
- otherIn October 2021, the group was refinanced to the tune of €55.5 million by Cheyne Capital. (irishtimes.com)
- otherCheyne took over management in July 2024 after discovering depleted stock levels, substantial arrears to suppliers, deferred maintenance and limited reinvestment. (irishtimes.com)
- otherGuarantees of some €10 million were given to entities outside the Press Up group, almost entirely related to properties owned by companies controlled by Patrick McKillen junior. (irishtimes.com)
- otherThe company made a formal open offer of €250,000 in full and final settlement of its debt but this was rejected by RELM. (irishtimes.com)
- otherThe company owns the Odessa Club property in Dame Street under a lease from Goldstein Property ICAV, which has not traded since 2017. (irishtimes.com)
- otherThe company has arrears of €50,000 for first quarter rent and the landlord issued a demand for payment on March 24 that was not paid. (irishtimes.com)
- otherThe company has some €6.3 million in warehoused tax liabilities but has been adhering to an agreed monthly repayment plan with Revenue. (irishtimes.com)
- otherIndependent expert Alan Large of EY said the company has a reasonable prospect of survival if the Odessa lease can be surrendered and at least €2.4 million is invested to restructure the balance sheet. (irishtimes.com)
The reporting
newest first- 2 May2025High Court appoints interim examiner to Workman’s Club operator
First report of the High Court appointing an interim examiner to Workman's Club Ltd on foot of a petition for court protection, detailing the company's financial difficulties, the €4.5m RELM Capital demand, and the prospect of a survival scheme requiring at least €2.4m investment.
suspect, Patrick McKillen junior, named, irish (judged from name)Patrick McKillen junior