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No, Corbin and King’s London Restaurants Are Not Going Under

The group, which includes the Wolseley, Brasserie Zedel, Colbert, and Fischer’s, has filed solvency records — but not because it has no money left

A full dining room at the Wolseley, with white tablecloths, grand hanging lights, and plinths supporting the roof.
Mid-service at the Wolseley, one of Corbin and King’s most famous London restaurants.
The Wolseley

Fake restaurant news in the Daily Mail may be of little surprise, but fake news it nevertheless remains. Corbin and King’s restaurants are not insolvent and are not in immediate danger of closure, despite a report in the DM claiming they had “filed for insolvency.”

The filings were in fact made as proof of solvency, as the restaurant group enters into not one, but two protracted legal battles. The first is with majority shareholder Minor International, which attempted to demand repayment of a £35 million loan which would have forced the restaurants’ closure, according to the Times. This is part of a long running dispute over strategy which King first publicly detailed in November 2021, with the two parties disagreeing over the state of the London restaurant market and also expansion plans.

The second legal battle is with insurer Axa, over the non-payment of Covid-19 losses. The claim, which is worth around £4.5 million, could have serious ramifications for the restaurant world at large. It will test the scope of “denial of access” insurance, a common policy feature in the industry; if found to be enforceable in these circumstances, it could lead to a flood of claims from restaurants.

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