Minor wins bid for The Wolseley after battle between Corbin & King and Thai stakeholder
The Wolseley restaurant’s majority shareholder has taken full control of the chain following a row with its co-founder.
Corbin & King’s co-founders have previously said the London restaurant business was “under siege” from its shareholder.
Thai hotel chain Minor International already held a 74 per cent stake in the company and said it now has “exciting growth plans”.
Joint administrators selected Minor’s bid for the business, which features Mayfair’s The Wolseley and Covent Garden’s The Delaunay.
Dillip Rajakarier, group CEO of Minor International, said: “Given the global appeal of Corbin & King Limited’s iconic portfolio of brands, it is no surprise that competition for the business was so strong. We are delighted that our offer was accepted, and we can now look forward to building on the existing strong foundations to drive growth in the UK and internationally.
“We have exciting growth plans for the business and are delighted to embark on this journey with our outstanding employees, the company’s key stakeholders, and, of course, our valued customers.”
Administrators from FRP were appointed for the business earlier this year, although the chain’s restaurants continued to trade.
There was a “fundamental difference of opinion” on how restaurants should be run between the chain and its shareholder, founder Jeremy King has previously said. “I will never change my principles to the detriment of those essential elements for a successful restaurant,” King said.