Six restaurants operating under the Med Kitchen and Caf? Med brand have been sold by administrators for an average premium of £250k
Six London leasehold restaurants operating under the Med Kitchen and Med Caf» brands have been sold by administrators Zolfo Cooper for an approximate average premium of £250k.
Acting under instruction from Zolfo Cooper, Fleurets sold the restaurants in Notting Hill and Chiswick to unnamed buyers, who will cease trading under the Med Kitchen/ Cafe Med brand. However the remaining four sites in Covent Garden, Islington, Clerkenwell and the Cafe Med in St. John’s Wood will continue to trade after being bought back by previous management Winepage Ltd, led by Ray Defazio and Rupert Hill.
While interest came from multiple private restaurateurs, Richard Negus, a director at Fleurets, said it was down to the quality of the properties’ locations that stimulated interest to sell them.
“We were pleased to get the sales through in what is a difficult market,” he said. “The premiums were achieved for all of the restaurants.”