D&D London buys Madison Bar and Restaurant
The sale of the sixth floor brasserie, which features a tapas and cocktail bar and a terrace with views across St Paul’s Cathedral, follows a settlement between Madison founder Frank Dowling and the administrators handling the disposal of his company, Greenwhich Inc, which fell into administration last year.
Commenting on the sale, Dowling said: “The site at One New Change is arguably the most profitable bar/restaurant per sq. foot in London and I am very proud to have created this vibrant venue.
“I am sure it will continue to thrive in the expert hands of D&D. We have cooperated fully with the insolvency process and I am now looking forward to moving ahead with a number of exciting business opportunities, not only in London but throughout the UK.”
D&D London has gone from strength to strength since undergoing a management buyout last year.
The company saw year-on-year turnover rise 5 per cent in 2013, and reported record Christmas revenues, with sales up 5 per cent across its London restaurants and 15 per cent growth in its City and Canary Wharf sites.
Earlier this year, D&D London was given the go-ahead to re-develop the 10,000 sqft German Gymnasium building at King’s Cross into a 150-cover brasserie and bar with outdoor terraces
