Richard Caring contemplating promoting a stake in his Ivy eating places

On Dec 23, 2023

Caring is named ‘the King of Mayfair’ for his empire of venues

Updated: 08:23, 23 December 2023

Dining tycoon Richard Caring is contemplating promoting a stake in his Ivy Collection of eating places, which might be price £1billion.

Caring – often known as ‘the King of Mayfair’ for his empire of venues – has known as in bankers at HSBC to advise on a gross sales course of.

The billionaire has not made a closing resolution over The Ivy and Ivy Asia chains, in keeping with Sky News.

Fine dining: Richard Caring pictured with his wife, Patricia

Fine eating: Richard Caring pictured along with his spouse, Patricia

But it’s thought a deal wouldn’t embrace companies such because the Scott’s and Sexy Fish eating places or movie star hang-out Annabel’s. The first Ivy opened in Covent Garden in 1917 and have become an acclaimed eating spot.

Caring, 75, took management of the Ivy restaurant in 2005 and has steered an formidable enlargement, together with websites in Birmingham, Leeds, Manchester and York.

In the latest accounts filed for Troia (UK) Restaurants – the corporate behind The Ivy Collection – earnings swelled to £29million for the 12 months to January 1, 2023, in contrast with £20.4million the 12 months earlier than.

Turnover hit £302.9million, up from £200.4million in 2022.

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