The group had hoped to open the pescatarian-focused restaurant in October, following delays brought on by the various London lockdowns, but now says that the opening has been pushed back again following discussions with its financial backers.
Writing about the new project in the latest Corbin & King newsletter, co-founder Jeremy Corbin said: “Whilst we retain full control over all policy and operational decisions regarding Corbin & King, the one area where I of course need to defer is capital investment – it is only proper that backers have the say.
“The problem there was a differing view between us during the pandemic of the best way forward and what the outlook for London would be - and that held us back because there remains a substantial cash outlay needed, and we had to be prudent with our available cash. We therefore agreed to stall the development unil greater certainty achieved.”
King said that work at the site should recommence in the New Year and that it wouldn’t take long to finish the restaurant, which pays homage to the now closed iconic seafood restaurant that used to sit just off Leicester Square.
Corbin & King has also put the development of its Notting Hill and City sites on hold for what King said was “the same prudential reasons” but says that the New Year will be “a hive of activity as all these projects crank up”.
King also used his personal update to reassure guests that The Wolseley was not under threat from eviction from landlord STJ Investments, which had reportedly demanded the group pay all of the £1m rent debt that had built up while closed during Coronavirus lockdowns.
“I just want to reassure you that this is not a reality. I am happy to report that we are now in more productive and cordial discussions with the landlord and hope to resolve soon.”
He also said the company would be involved in what would effectively be a test case for hospitality when it goes to court in January to fight its insurer over refusing to honour its Business Interruption policies.