Paddy McKillen Jnr Faces Tax Dispute with Revenue Amidst Hospitality Group restructuring
Table of Contents
Paddy McKillen Jnr,co-founder of the hospitality group formerly known as Press up Group (now Eclective Hospitality Group),is currently engaged in a tax dispute with the Irish Revenue Commissioners. The dispute centers around COVID-era taxes, with Revenue reportedly seeking a “double payment” for taxes already covered under a phased payment arrangement. This comes as McKillen Jnr also navigates a separate Commercial Court dispute regarding rent arrears on Dublin office properties.
details of the Tax Dispute
According to a spokesperson for McKillen Jnr,the issue concerns taxes related to the COVID-19 pandemic that were previously addressed through a payment plan. The spokesperson stated that Revenue is seeking payment for taxes that are already accounted for, with refunds anticipated at a later date. “We’ve been engaging with Revenue for 12 months and have made three settlement offers.We remain committed to resolving this matter amicably in the coming days,” the spokesperson said. https://www.irishtimes.com/business/2024/10/30/paddy-mckillen-jnr-faces-tax-dispute-with-revenue/
Ivor Fitzpatrick & Company Solicitors, representing Revenue in the case, is a firm retained by Revenue for tax collection purposes. Revenue itself declined to comment on the specifics of the case, citing legal restrictions preventing them from discussing the tax affairs of individuals or businesses.
From Captain America’s to Eclective Hospitality Group: A Business Overview
paddy McKillen Jnr, alongside Matt Ryan, established the Press Up Group in 2007 with the opening of Captain America’s restaurant on Grafton Street in Dublin. https://www.pressupentertainment.ie/about-us/ The group rapidly expanded to include well-known brands like Wagamama and the Workman’s Club, growing to over 50 venues and employing approximately 2,000 people. The portfolio also included a chain of hotels, which were sold in 2023.
In 2023, the Press Up Group underwent a notable restructuring. London-based investment firm Cheyne Capital acquired a majority equity stake in the group through a debt-for-equity swap. Following the acquisition, the group was rebranded as the Eclective Hospitality Group.https://www.cheynecapital.com/news/cheyne-capital-invests-in-eclective-hospitality-group/
Separate Commercial Court Dispute
In addition to the tax dispute, McKillen Jnr is currently involved in a separate legal battle in the Commercial Court. This case concerns receivers seeking possession of three office properties in Dublin due to alleged rent arrears. Details of this dispute are still unfolding.
Key Takeaways
* Paddy McKillen Jnr is disputing a tax assessment from the Irish Revenue Commissioners related to COVID-era taxes.
* Revenue is seeking what McKillen Jnr’s representatives claim is a “double payment” for taxes already covered by a phased payment arrangement.
* McKillen Jnr’s hospitality group, formerly Press Up Group and now Eclective Hospitality Group, underwent a major restructuring in 2023 with an investment from Cheyne Capital.
* McKillen jnr is also facing a separate legal dispute in the Commercial Court over alleged rent arrears on dublin office properties.
Looking Ahead:
The outcome of the tax dispute remains uncertain, but McKillen Jnr’s representatives have expressed a commitment to reaching an amicable resolution with Revenue. The ongoing Commercial Court case adds another layer of complexity to McKillen Jnr’s business interests as the Eclective Hospitality Group continues to establish itself under new ownership.