Popular Wicklow restaurants saved from closure following takeover by UK firm

There were fears for the popular restaurants after receivers were appointed to three well-known restaurant chains within Ireland's largest hospitality group, Press Up, including Wow Burger, Elephant and Castle and Wagamama.

A deal is now being finalised whereby Cheyne Capital, a London-based lender, is taking control of the group and injecting fresh capital.

The group owns several properties, mainly in Dublin, including restaurants, bars, nightclubs and the Stella cinema. It has been confirmed that all of the group's venues are to stay open except for the Wowburger on Parnell Street, in Dublin.

Commenting on the future of the outlets at Bray Central, Wow Burger and Elephant and Castle, and on the centre generally, Mr Ward said: "I am delighted to see the positive developments at Press Up Hospitality Group, following Cheyne Capital's strategic investment.

"This significant capital infusion, believed to be around €20m, is a clear testament to the strength and potential of the business and ensures the company is placed on a solid financial footing for the continuing success of their Bray outlets, Wow Burger and Elephant and Castle.

"It is encouraging to see the positive impact and increased footfall that the centre and all the shops have had on Bray. This investment marks an exciting new chapter for Press Up and we look forward to seeing its continued success as a key player in our local economy," he concluded.