Restaurant Update

31 Jul 2009 11:31



Indian Restaurants Group Plc

Restaurant Update

31 July 2009

The Board announced within its interim results for the six month period to 31 March 2009 that it had closed the Mela unit at Herne Hill (owned by the Group's wholly owned subsidiary Param Consultancy Limited ("Param") and previously known as 3 Monkeys) to protect the Group from further losses. The Company had marketed the unit for sale and received some interest but this did not materialise into an acceptable offer.

Further to additional consultation with and advice from the Company's bank, HSBC, Jeremy Willmont and Phillip Sykes of Moore Stephens LLP, 1-3 Snow Hill, London EC1A 2DH were appointed administrators on 30 July 2009 to Param. 

Contact: 

Indian Restaurants Group Plc 

Haresh Kanabar, Chairman, 0207 297 0010 

Amit Pau, Chief Executive, 0207 297 0012

W.H. Ireland 

Tim Cofman-Nicoresti/Katy Birkin 

0121 265 6330