Paramount Restaurants acquired by bankers
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.
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