A London restaurant chain has ceased operations just weeks after it cancelled an equity crowdfunding round.
Bel Air, which has branches in the City, Shoreditch and Farringdon, had been due to launch a crowdfunding raise on Seedrs earlier this month, City A.M. can reveal.
The raise was then postponed until the new year, with the company citing a busy Christmas trading period ahead.
But yesterday messages were posted on Bel Air's social media accounts saying that the company had shut down because it had failed to secure funding.
It's with great regret we must confirm Bel-Air Inc Ltd has ceased trading. We would like to thank our loyal staff for their enormous efforts and all our wonderful customers. Much love and thanks x pic.twitter.com/0BM7dRz1Ag— Bel-Air (@belairfood) November 22, 2017
Backers of the brand had previously been billed as including Zoopla founder Alex Chesterman and Five Guys investors Pembroke VCT.
The company was co-founded by Andrew Bredon, who was one of the original team who launched luxury travel website Secret Escapes, and Max Gates-Fleming.
The company was set up in 2014 and had recently opened a fourth site in collaboration with East London co-working space Second Home. It also had partnerships with boutique gym Frame.