Earlier today (26 May) Restaurant reported that the central London venue had filed notice to appoint administrators.
The process was led by Opus Restructuring and Insolvency, safeguarding around 30 jobs.
Tong Dinner Limited, which traded as Gouqi, entered administration following mounting financial pressures and reduced investor commitment “despite the strength of its culinary offering and reputation within London’s hospitality scene”.
Following an accelerated marketing and valuation process carried out by Hilco Global, joint administrators from Opus secured a sale of the business and assets to Fire Horse Trading Limited.
The transaction enables the restaurant to continue trading under the Gouqi brand, with all employees transferring to the new company. Cripps supported the legal aspects of the transaction.
“This is exactly the type of outcome we always strive to achieve wherever possible. The hospitality sector continues to face enormous pressure, so securing a deal that protects jobs, preserves a well-regarded brand and allows the business to move forward under new ownership is extremely positive,” says Opus partner Ben Stanyon.
“Our focus throughout the process was to find a solution that delivered the best possible outcome for employees, stakeholders and the future of the restaurant. We are pleased to have achieved a result that enables the business to continue trading and retain its talented team.”
A spokesperson for Fire Horse Trading Limited added: “Gouqi has built a strong reputation within London’s dining scene, with a distinctive concept, exceptional food offering and a highly skilled team already in place. We are excited about the opportunity to build on those strong foundations and invest in the future of the business. Importantly, this transaction means continuity for both employees and customers, and we look forward to continuing the restaurant’s journey under the Gouqi name.”
Located near Trafalgar Square, Gouqi is the debut solo restaurant from the former Hakkasan executive chef.
Launched in 2023, Gouqi positions itself as offering a fusion of flavours, techniques and ingredients drawn from across China.