As reported by City AM, M Threadneedle Street will close its doors next week.
It comes after M founder Martin Williams stepped down as CEO of Rare Restaurants last year and subsequently joined The Evolv Collection – formerly D&D London – as chief executive.
City AM understands that Rare Restaurants’s new CEO, Baton Berisha, who joined in March, is focused on growing the core Gaucho brand.
There is speculation that a rent review on the Threadneedle Street premises also influenced the decision.
As well as M Threadneedle Street, Rare Restaurants will also close its Twickenham pub The Crane Tap, which originally launched as M Bar & Grill in 2017, next week, leaving only the Gaucho brand in Rare’s portfolio.
No redundancies are expected, with staff to be offered work at nearby Gaucho restaurants, according to sources close to the matter.
Restaurant has contacted Rare Restaurants for comment.
Billed now as ‘the UK’s first fusion steakhouse’, M Threadneedle Street was launched by Williams in 2014.
The group expanded to Victoria in 2015 and Canary Wharf in 2022, with both those restaurants subsequently closing in 2023.
Gaucho currently operates 20 restaurants across the UK including 12 in the capital.
Last month the group unveiled a new QSR concept within the recently-opened Boxhall City food hall called Gaucho Go, which serves a menu inspired by the flavours of Argentina and Latin America.