The remembrance service will take place on Monday 16 May at 1pm at Albert Hall, in Peter Street, Manchester.
Living Ventures has created a charity page to raise funds for The Christie, where Bacon had spent much of his time over the last two years, and the Royal Manchester Children's Hospital where his 11-year-old nephew Jett, lost his own battle with a rare bone cancer in the same week.
“If you would like to make a pledge in their memory, in lieu of flowers, please do and leave a message for all of Tim and Jett’s family and friends at http://uk.virginmoneygiving.com/SomeoneSpecial/timbaconandjettbacon
“Don’t be sad, Tim loved and lived life. He created livelihoods and brought us all together with a great deal of happiness as one big family. Each one of us now walks taller for knowing him. Feel free to come along and remember him with us," said a spokesperson for Living Ventures.
Bacon, who formed Living Ventures, the company behind restaurant and bar brands Gusto, Australasia, Alchemist and Manchester House with Jeremy Roberts in 1993, died on 29 April following a 14-year battle with cancer.