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Paramount Restaurants acquired by bankers
By Luke Tuchscherer
Paramount Restaurants, the firm behind the Chez Gerard, Caffe Uno and Bertorelli chains, has been acquired by its lenders.
The company’s bankers – Royal Bank of Scotland, HSBC, Barclays and Sankaty – acquired the controlling stake from private equity group Silverfleet Capital, and according to The Times, the deal with cut Paramount’s debt from £120m to £65m.
Chief executive Mark Philips will stay in his post as part of the deal.
Paramount has more than 80 sites in its portfolio, which also includes Livebait Restaurant and Grill.
Paramount Restaurants, the firm behind the Chez Gerard, Caffe Uno and Bertorelli chains, has been acquired by its lenders.
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