By Denis Sheehan, Publisher, H&C News
Thai hospitality group Minor International, the majority shareholder of restaurant group Corbin & King is embroiled in a growing dispute with the founders, Chris Corbin and Jeremy King.
Corbin and King have been partners in business for nearly 40 years and the restaurant group they founded operates many of London’s most iconic restaurants including the Wolseley, Brasserie Zédel, and the Delaunay.
The restaurant group has now been forced into administration, as footfall was ravaged during pandemic lockdowns.
Administrators were appointed following Minor International claimed Corbin & King was unable to continue meeting its financial obligations.
The move into administration follows on from several reported disagreements on financing and future strategy. Minor International holds 74% of the group and a position of control on Corbin & King’s board.
Much of the ongoing disagreement between the founders and the majority shareholders is being played out across the financial media rather than the confines of the boardroom. Both make claims and counter claims, Minor International focusing on liquidity, and Jeremy King repeatedly stating an intention to buy the company out of administration.
Thankfully, restaurant operations to date have not been impacted from the dispute and are open as normal. Let’s just hope that a resolution is found to enable all who work with the group to continue doing so, and restaurant institutions including the Wolseley, Brasserie Zédel, and the Delaunay remain intact.