THE UNICORN restaurant in Dublin remained open for business yesterday evening after a company relating to the business, Springmanor Limited, was placed in liquidation, owing creditors an estimated €2.2 million.
It is understood the Unicorn, which is owned by Georgio Casari and Jeffrey Stokes, plans to continue to trade.
At a creditors meeting hosted by the insolvency and liquidation firm Butler Reddy in Dublin yesterday, it emerged that Springmanor Ltd has a book value of €2.66 million, but its assets are estimated to realise just €853,105.
The bulk of the assets relate to a leasehold interest on the Il Segreto restaurant, which is adjacent to the Unicorn. The Il Segreto sister restaurant also remains open.
Attempts to contact Mr Stokes and Mr Casari yesterday were unsuccessful. Liam Reddy of Butler Reddy declined to comment.
Springmanor creditors include AIB, which is owed €892,348 in relation to mortgages registered against the property on Merrion Row.
It also owes the Revenue Commissioners €74,384, according to a statement of affairs document distributed at the meeting. Almost €61,000 of this relates to VAT.
Unsecured creditors are owed €1.2 million. As the estimated value that can be realised from Springmanor falls short of the sum owed to its secured creditor, it would appear there are not enough funds to repay other creditors. Springmanor’s unsecured creditors include Dublin Corporation, owed €131,458, and Kaneco Ltd, a supplier of kitchen equipment, which published a notice of intention to wind up Springmanor in January. Other creditors include wine and meat suppliers.
Notice of a petition for the winding up of the company by the Revenue Commissioners was posted late last year but it was later reported the company had agreed a plan for the payment of a €120,000 debt. Springmanor is listed to be struck off by the Companies Registration Office.
In 2009, ownership of Springmanor was transferred by Mr Casari and Mr Stokes to Citywest Hire Ltd, which is in turn owned by the two men. Mr Stokes is the father of Christian and Simon Stokes, ex-operators of the Residence Club on St Stephen’s Green.
The Unicorn has been a favourite haunt for a political, legal and media set. Frequent diners have included Adrian Hardiman, now a Supreme Court Judge; former PD leaders Mary Harney and Michael McDowell; Fianna Fáil’s PJ Mara; and journalist Eamon Dunphy.