On 16 November, the brothers announced on Instagram that they were leaving the two Islington ventures ahead of a new project.
But Billy McCartney, the co-owner of the business’s parent company The Armada Group, says the pair unexpectedly gave notice that they were leaving their roles with immediate effect on 14 November.
This prompted the temporary closure of the two venues after several other members of staff also resigned from their roles.
Both Caravel and Studio Kitchen will reopen this evening (19 November), albeit with reduced opening hours for the time being.
In a statement provided to Restaurant, McCartney said: “It was agreed in February 2025 that Fin and Lorcan would leave The Armada Group at the end of this year, and in recent weeks there were conversations in place between all parties to facilitate this departure.
“A repeated point of discussion centred around our social media accounts, a business asset that Fin and Lorcan held the authentication codes to. Unrealistic and potentially unlawful demands were made of the business for the codes to be released and, after negotiation, an agreement was reached that suited all parties.
“On 13 November we were told that this agreement would not be adhered to; Fin and Lorcan would retain control of the digital assets and use them in their next venture. On the advice of lawyers, Fin and Lorcan’s access to all company digital assets and IT systems was revoked. This would have had no effect on their ability to perform their roles.”
McCartney went on to say that the impact of the closure on the business’s staff, customers and suppliers “is immeasurable”.
“We have been forced to close Caravel for four days, cancelling bookings for birthdays and anniversaries; we have had to dispose of stock that was ordered with no intention of ever being used; we have had to tell suppliers there may be delays to payments due to the disruption to cash flow.”
The sons of Rochelle Canteen co-founder Melanie Arnold and restaurant consultant Jon Spiteri, the brothers were recruited to launch Studio Kitchen by McCartney’s Holborn Studios Limited in 2020.
It is understood that around the time Caravel launched in 2022, the current holding company The Armada Group was created, and the Spiteri brothers ceased being employees and became directors - but not shareholders - in the business.