Two popular Dublin city centre restaurants co-owned by celebrity chef Dylan McGrath say it is "business as usual" as they seek to deal with multimillion-euro debts.

Brasserie Sixty6 and Rustic Stone have both entered the recently announced 'Scarp' process, having taken a major financial hit due to Covid restrictions and closures.

Scarp, which stands for Small Company Administrative Rescue Process, is designed for businesses facing temporary insolvency.

Mr McGrath, a former MasterChef Ireland judge and winner of a Michelin star in 2008, said in a statement: "We want to thank all of our staff, loyal customers and suppliers for their support over the past two years as we have coped with the effects of the pandemic. We are confident the restaurants have excellent prospects going forward once we reorganise the businesses."

The process offers them the chance to write down debts and restructure using new investment, similar to the examinership system but with a reduced need for court intervention.

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Scarp can be used by companies with a turnover not exceeding €12million, a balance sheet of less than €6million and an average number of employees below 50.

Both companies are equally part-owned by Mr McGrath and his business partner Vincent Melinn.