New Corbin & King owners to resume development of three further UK restaurants

Thai hotel group Minor International has said it has "no intention" to franchise Corbin & King's restaurants after seizing full control of the company last week.

But the firm said it saw "significant potential" for the business and planned to recommence development of three new sites in the UK.

In an update yesterday (7 April) Minor said it was "committed to upholding the legacy of the restaurants".

However, it's unclear if the group's hesitance to franchise will be limited to the UK. In an interview with the Financial Times this week, Minor chief executive Dillip Rajakarier said a targeted rollout of Corbin & King brands was planned in markets such as Hong Kong and New York.

Minor ousted Jeremy King, the famed restaurateur who founded the fine dining group in 1981, in a bidding war last week after placing the company in administration in January.

Yesterday Minor said that joint administrators had accepted its offer as the "winning bid" to acquire 100% of the business.

Together with his business partner Chris Corbin, King ran some of London's most beloved restaurants including the Wolseley (pictured), the Delaunay and Brasserie Zédel and his departure provoked dismay in the hospitality industry.

Minor has held a 74% share of Corbin & King since 2017 and said acquiring 100% of the company was part of a strategy to grow its "iconic restaurant portfolio" in the UK and internationally.

William E Heinecke, chairman and founder of Minor, said: "We have the utmost respect for what the co-founders and the team have created and we are committed to preserving what they have achieved.

"We will protect and nurture the uniqueness of each restaurant and have no intention to franchise any of them. All restaurants are trading as usual and the teams continue to welcome valued customers.

"In terms of strategy going forward, stability and business continuity will be our utmost goals, while building on the existing strong foundations to drive growth."

He added that minor was "devoted to supporting the outstanding team of more than 700 people at Corbin & King".

"We will work closely with its exceptional talent to bring this iconic portfolio of restaurants on this continued journey. Our principal objective remains unchanged: to ensure the sustained success of all the businesses and build an exciting future."