US investment firm makes bid for Corbin & King

By James Lawrence

Published: 14 February, 2022

A New York-based company, Knighthead Capital Management, has pledged to refinance Corbin & King's restaurants after making an offer to the administrators FRP Advisory.

As reported by Sky News, the group's administrators have received numerous offers from interested parties, all pledging to refinance Corbin & King’s £38m of accrued company debt, saving the business from insolvency.

According to Knighthead’s website, the American firm focuses on “long-short investments and specialises in event driven, distressed credit and special situation opportunities across a broad array of industries.”

The restaurant group went into administration in January 2022, following a dispute between Minor International, the company’s majority shareholder, and co-founder Jeremy King.

However, Knighthead has offered to refinance all loans outstanding to Minor International.

Corbin and King have been managing restaurants in London since 1981, when they bought Le Caprice in St James’s.

They subsequently opened The Ivy in 1990, quickly establishing the restaurant as a magnet for A-list celebrities.

In 2003, the duo launched The Wolseley in a Grade II listed building on Piccadilly.

Printer friendly version