The executive chair of Paramount, Guy Naggar, has been confirmed as a potential bidder for the restaurant group.

The group, which acquired restaurant brand, Chez Gérard, in April 2003 also owns the Livebait, Café Fish and Bertorelli brands.

Paramount said that both Naggar and a business associate, Peter Klimt, were involved in the possible offer, which is estimated at being worth up to 35p per share.

Naggar and Klimt already hold 12 per cent of the company.

They have also indicated their intention to negotiate with the existing management team for their participation in any offer.