PBR Restaurants Limited, which employs 72 people in Dublin, has successfully exited the examinership process.

The company operates a number of restaurants, cafés and gastro pubs in the Greater Dublin area, including Fish Shack Café, Ouzos and Kelly & Coopers.

Neil Hughes, Managing Partner at Baker Tilly, was appointed in August as the examiner to the restaurant group.

Under the scheme of arrangement formulated, the operations at Blackrock and Dalkey are being disposed of and the investor will focus on the Fish Shack operations which include plans for further growth and expansion into new locations.

Mr Hughes welcomed the news and also advised that struggling companies should look at all restructuring options.

"I am delighted that PBR and its six operations has secured its future with a team of new investors coming on board. The securing of fresh investment into the company has preserved the employment of 72 members of staff," Mr Hughes said. 

He said that systematic of multi-unit operations, PBR successfully traded a number of outlets for a number of year but recently two of its operations were loss-making and affected the company's overall performance. 

"Too often, companies in financial difficulty fail without fully exploring restructuring options available to them such as examinership," he said. 

"Examinership provides a company with a breathing space of up to 100 days to allow a company secure fresh investment and restructure its balance sheet," Mr Hughes added. 

Eric Kinsella's Esprit Investments has partnered with Chef-Patron Raouf Djeffal and acquired Ouzos Restaurant in Dalkey.