Corbin & King new owners to develop three new UK sites
MINT said it is committed to upholding the ‘legacy’ of all restaurants and will ensure the continuity of the business, as well as recapitalize the business to ensure a strong balance sheet and financial stability.
After being selected by the joint administrators to restaurant group Corbin and King, Minot International Public Company Limited (MINT) has announced it plans to place its initial focus on recommencing the development of three new UK sites.
MINT was already the existing majority shareholder in Corbin and King Limited – having held a 74% shareholding interest and a controlling Board position in the company since 2017.
It said acquiring 100% of the company’s assets and businesses is a reflection of MINT’s “long-held” strategy to invest in and widen, sustainably and responsibly, the company’s iconic restaurant portfolio in the UK and internationally.
Currently, Corbin and King operates some of London’s well-known restaurants namely; The Wolseley, Brasserie Zédel, The Delaunay, The Delaunay Counter, Colbert, Fischer’s, Bellanger and Soutine, as well as Café Wolseley at luxury shopping destination Bicester
Village in Oxford.
MINT said it is committed to upholding the “legacy” of all restaurants and will ensure the continuity of the business, as well as recapitalise the business to ensure a strong balance sheet and financial stability.
The firm added that viable and sustainable commercial strategies remain in place, and expansion plans on the horizon will be “selectively” executed with the leadership team, taking into consideration all stakeholders.
According to MINT, it recognises Corbin and King’s “extremely capable team” as one of the key success factors and will continue to support every team member going forward.
William E Heinecke, chairman and founder of Minor International, said: “We have the utmost respect for what the co-founders and the team have created and we are committed to preserving what they have achieved. We will protect and nurture the uniqueness of each restaurant and have no intention to franchise any of them.
“All restaurants are trading as usual and the teams continue to welcome valued customers. In terms of strategy going forward, stability and business continuity will be our utmost goals, while building on the existing strong foundations to drive growth.”
He added: “We are devoted to supporting the outstanding team of more than 700 people at Corbin and King, and we will work closely with its exceptional talent to bring this iconic portfolio of restaurants on this continued journey. Our principal objective remains unchanged: to ensure the sustained success of all the businesses and build an exciting future.”
