London restaurant group could auction off 100m at auction

D & D London, which manages restaurants in the capital including the Bluebird in Chelsea, and the Coq d'Argent in the City, is to consider a sale follows previous talks with a London investment firm which failed.

According to Sky News, LDC has asked Interpath to go into talks with interested parties, following an unsuccessful bid by investment firm Montecito Equity Partners.

Sky News reported that LDC, the private equity arm of Lloyds Banking Group, which will hold a majority share of the company at issue since 2013, has asked Interpath Advisory to start a sale process for the group, valued at around £100 million.

Sky News said a D & D spokesman declined to comment on an official sale process for D & D London but claimed trading today in the group is 'very strong'.

Loewi and Gunewardena set up D & D London in 2006 as a result of a management buy-out by Sir Terence Conran's restaurant business.

The group is currently lead by Des Gunewardena and deputy chairman David Loewi, who taken over the business in 2006 - acquiring a stake in Conran Restaurants.