Two of London’s best known restaurateurs face a battle for their empire after it was forced into administration in a ‘power play’ by its Thai owners.
Chris Corbin and Jeremy King run top London restaurants including The Wolseley, which is popular among celebrities.
They have been in business together since buying La Caprice in 1981, and in 1990 opened The Ivy, one of London’s most popular venues.
Chris Corbin and Jeremy King (pictured with his wife Lauren) run top London restaurants including The Wolseley, which is popular among celebrities
The Corbin & King restaurant group has been fighting Thai hotelier Minor, which has had a 74 per cent stake, since 2017.
King is thought to have opposed openings abroad and sought to bring in outside creditors.
Minor opposed this and called in a £35million loan, effectively forcing it into insolvency.
King said that was a ‘power play’, and that he and Corbin will buy it out of administration.
King said last night: ‘There is absolutely no need to go into administration, we are trading extremely well and all suppliers, staff etc continue to be paid.’
Minor said: ‘Since 2017, Minor has put a number of commercially attractive expansion proposals on the table only to see them blocked by Mr King.
As the majority shareholder, we refute in the strongest possible terms any suggestion Minor has anything less than the success of Corbin & King Ltd and the interests of all its stakeholders at heart.’
