Cheyne Capital has installed a team of restructuring veterans at Press Up Group, which owes more than €45 million

Patrick Sheehan, an experienced business executive, is working with Press Up Group to advise the business and its main lender, Cheyne Capital, on its options. Cheyne, a London-based alternative investment fund, has more than £45m of debt from Press Up Group companies. Patrick Sheehan has joined the hotel group, which has rapidly grown to become one of the largest in the State, as restructuring director. He is part of a small team within the bar and restaurant operator tasked with determining the future of the business. A key part of the team’s remit is to…

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