London, Mayfair-based Italian family restaurant Cipriani London has filed for administration to protect its assets while it appeals against a court ruling to change its name.
The owners of Hotel Cipriani in Venice, which is part of the Orient-Express Ltd group, filed a lawsuit to ban the Cipriani family from using the brand name in 2006.
Hotel Cipriani is the owner of the UK trademark after the founding family, the Cipriani's, sold its interest to James Sherwood's Sea Containers business in 1967. Sherwood used the property to start the Orient-Express chain of hotels.
The restaurant, visited by celebrities including Sir Elton John, is to change its name by April 24, and will remain
in administration while it challenges the ruling. It has been forced to pay £1.57m after the High Court's decision favoured the hotel.
Cipriani London's parent company Cipriani International SA, was also ordered to pay the Orient-Express hotel £6m to cover profits made while trading under the Cipriani name, and that the Luxembourg-based group's global assets be frozen.
Restaurant property specialist Davis Coffer Lyons has been called in to value the premises.
The restaurant is to continue trading while
in administration. It has no debts apart from its obligations resulting from the lawsuit, the family said.
The move into administration has not affected any other part of the business.
