The Overdraught bar is ‘paid’ and will soon re-open with a steakhouse menu

The Overdraught has been cleared — or, at least, the bar/restaurant of that name is set to return to business.

The famed south county Cork eating house, which has old Munster and Leinster mahogany bank counters, has been bought by a couple returning from the US.

Despite its bank links, and steakhouse reputation going back to the 1970s, the premises ceased trading in 2013, and was put up for sale by receiver Michael Cotter, of Ernst & Young, via estate agent Dennis Guerin, of Frank V Murphy & Co, who says “the place was an institution. Half of Cork has a story about going there.”