Administrators for restaurant operator Richoux have sold the brand name and intellectual property of the business to Naveen Handa, who is part of the family that owns leisure firm The Cairn Group.
The sale of the Richoux brand follows a separate transaction resulting in the assignment of the former Richoux premises in South Audley Street, Mayfair to an undisclosed party by administrators Interpath Advisory.
Steve Absolom, joint administrator at Interpath, said: “Since our appointment as administrators, we have been struck by the strong affection held for the Richoux brand by customers and people working across the hospitality industry alike, and so we’re delighted to have completed the sale of this iconic brand to Naveen Handa.”
Mr Handa commented: “I am delighted to have the opportunity to develop this much loved, century old brand and continue to elevate for the future expansion, both in the UK and globally.”
The Cairn Group, which has grown to become one of the UK’s premium leisure groups, operates a portfolio of 32 hotels and 30 bars and restaurants.
Interpath said that despite the challenges facing the hospitality sector, the level of interest it had received for the business throughout the administration had been “extremely positive”, underlining the strong appetite from operators to provide quality casual dining experiences as the market emerges from the Covid-19 crisis.