From the administrators' statement

Since 2006, the Paramount Group has suffered from a decline tn trading which led to a number of restaurant disposals and, in June 2009, a financial restructuring of the business was undertaken which resulted in a debt for equity swap and the Royal Bank of Scotland plc, HSBC Bank plc and Barclays Bank pic, being the Paramount Group's Secured Lenders, taking 100% ownership of the Paramount Group

The performance of the Paramount Group continued to deteriorate during 2009 as the UK economy was hit by recession which partcularly impacted the hospitality industry

In 2010, Christie & Co was instructed by the Paramount Group to market the group for sale, however, the sale process did not result in a sale being completed due to a lack of suitable bids

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Caffe UNO Brasseries Limited (05622071)

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