‘King of Mayfair’ Richard Caring hits out at ‘lacklustre’ economy Hospitality Richard Caring, dubbed the ‘King of Mayfair’, has blamed the UK’s “lacklustre” economy for falling sales at his luxury restaurant group. The hospitality tycoon’s Caprice Holdings reported a four per cent dip in revenue to £90.5m in the year to January, which it blamed on rising employment costs and US tariffs. Caring’s hospitality group includes [...]
Exclusive: Coq d’Argent unveils new riverside location as it bids farewell to No.1 Poultry Life&Style Iconic City restaurant Coq d’Argent is set to move to a new home in the Square Mile, swapping No.1 Poultry for a riverside location at One Millennium Bridge. The move, which is expected to be completed in January 2027, will mark the end of a 28 year residency in the building. The new site will [...]
Exclusive: Richard Caring in talks to buy City icon 1 Lombard Street Life&Style Richard Caring is in advanced talks to buy iconic City restaurant 1 Lombard Street, marking his first foray back into the restaurant business since the £1.4bn sale of his empire. A deal for the Lombard St restaurant, located in a stunning former banking hall, is understood to be in the final stages of negotiations following [...]
Annabel’s owner sells Mayfair empire in £1.4bn Abu Dhabi deal April 12, 2026 Richard Caring has sold a majority stake in the business behind Annabel’s, the Ivy and a string of London’s most exclusive restaurants to an Abu Dhabi-backed investor in a deal valuing the group at around £1.4bn. The buyer, Diafa, is a luxury hospitality platform linked to International Holding Company (IHC), chaired by Sheikh Tahnoon bin [...]
The Ivy: Jobs continue to be cut as Richard Caring nears £1bn sale June 26, 2025 Jobs have continued to be lost at the group behind restaurant chain The Ivy as billionaire owner Richard Caring edges closer to a £1bn sale. Troia (UK) Restaurants cut more than 100 roles during its latest financial year as its pre-tax profit also declined despite a rise in revenue, new accounts filed with Companies House [...]
Richard Caring apologises for supplier letter amid wave of criticism June 16, 2025 Richard Caring has been forced into an embarrassing apology after City AM revealed his restaurant group demanded suppliers take a “mandatory” 2.5 per cent pay cut. The founder of the Ivy Collection and Caprice Holdings endured a wave of criticism after our exclusive story last week, with the saga branded a PR disaster. Billionaire Caring [...]
Exclusive: Richard Caring hits suppliers with mandatory ‘discount’ amid £1bn sale talks June 12, 2025 The Richard Caring restaurant empire, which includes the Ivy Collection and Caprice Holdings, has demanded its suppliers take a 2.5 per cent “discount”, blaming “increased tax burden and cost of employment, cost of indirect products [and] services and also direct cost of food and beverage.” In a letter dated 3 June, signed by Richard Caring’s [...]
Sexy Fish: Billionaire Richard Caring’s restaurant empire reveals losses May 23, 2025 Losses have been revealed for part of billionaire Richard Caring’s high-end restaurant empire, which includes the likes of Sexy Fish, as talks over a potential £1bn sale continue. The 2023 results for Caprice Holding, which also owns Scott’s and Bacchanalia, have only just been published, eight months after the Companies House deadline. The documents show [...]
The Ivy owner sheds jobs as potential £1bn sale drags on April 28, 2025 The group behind restaurant chain The Ivy shed 300 jobs as billionaire owner Richard Caring continues to weigh a £1bn sale, it has been revealed. The business has only just published its financial accounts for 2023, seven months after the Companies House deadline. The results show The Ivy’s owner cut its headcount from 5,962 to [...]
‘King of Mayfair’ on cusp of selling The Ivy restaurant group to little-known London firm September 6, 2024 Billionaire restaurateur Richard Caring is on the cusp of securing a deal to sell his majority stake in The Ivy restaurant chain after more than two decades at the helm. The reported buyer, the little-known investment firm SI Advisers, is likely to pay in the region of £1bn for the group, which also includes The [...]