Restaurant group D&D London confirmed this morning that it is ending trading at one of its most high-profile outlets.
The company said it would not be exercising its option to renew its leases and therefore will cease operating the retail and dining spaces at The Royal Exchange later this summer.
The decision follows an agreement with landlord Oxford Properties. The business will continue to operate as usual until the end of August.
The City remains a key focus for D&D, with its restaurants situated in the Square Mile including Coq D’Argent, Madison, Paternoster Chophouse, Old Bengal Warehouse as well as Michelin starred Angler, and South Place Chophouse at South Place Hotel.
Des Gunewardena, chairman and CEO of D&D, commented: “We have thoroughly enjoyed being part of The Royal Exchange for some 15 years and in that time The Grand Café and Sauterelle restaurant have become firm City favourites.
“But we and Oxford Properties agreed that it was time for a change and we wish them well with their future plans for the building. We do however remain committed to the City and plan to announce a new and very exciting restaurant project in the Square Mile shortly.”
D&D London is a group of luxury restaurants, bars and hotels based principally in London, but also with venues in Leeds, Manchester, Paris, New York and Tokyo. It was founded by Gunewardena and David Loewi in 2006, following a buyout of Conran Restaurants, which itself was established back in 1991.
Oxford Properties, meanwhile, has subsequently announced that iconic retailer Fortnum & Mason is to take retail and dining space at The Royal Exchange in October 2018.
Fortnum & Mason will occupy two prominent positions at The Royal Exchange. A 2,400 square feet retail space will carry an edit of products from Fortnum’s flagship Piccadilly store, including a range of its most popular teas, preserves and hampers alongside features such as the confectionary counter and a fresh produce offer.
Separately, situated in the courtyard of The Royal Exchange, Fortnum & Mason will create a “visually stunning” dining and bar area with up to 90 covers that celebrates and is in-keeping with the dramatic character of the building.