Mon, 04 Aug 2025 | BUSINESS SALE
Park Chinois, the high-end Chinese restaurant founded in Mayfair in 2015 by Alan Yau, has been rescued after being acquired out of administration. The business and assets of Park Chinois Limited have been acquired by related entities Le Soleil Enterprises Limited and Izamaiyah Limited, owned by Park Chinois director Imtiaz Haque.
Park Chinois Limited fell into administration on July 22 2025, with Ian Corfield and Phil Armstrong of FRP Advisory appointed as joint administrators. According to the administrators, the company had faced “significant trading disruption” as a result of the COVID-19 pandemic, with its problems further exacerbated by rising labour and operating costs, as well as intensifying local competition.
Amid these pressures, and uncertainty around the restaurant’s ability to secure new investment, Park Chinois’ directors decided to place the business into administration. According to a filing at Companies House, Haque has now acquired the business and assets in a £200,000 deal, which also sees him assume liability for £5.4 million owed to second charge holder PCDS and £1.5 million owed to landlords.
In the business’ accounts for the year to March 25 2023, its turnover stood at £14.5 million, up from £10.6 million the previous year, while it moved from a post-tax loss of nearly £1.4 million to a profit of over £53,000. At the time, fixed assets were valued at £12.1 million and current assets at £16.5 million, with net assets amounting to £17.8 million
Joint administrator Ian Corfield commented: “Park Chinois is a distinctive and established name in London’s fine dining scene. While trading conditions have been extremely challenging, this transaction secures the future of the business, preserves employment, and provides continuity for its team and customers.”
Administrators said that the deal secures all 75 jobs at the restaurant, but Haque has stated, in an administrator’s proposal, that a labour restructuring will be undertaken to align staffing levels with the current trading environment. He said this is set to involve “targeted redundancies where necessary to reduce fixed costs.”
Furthermore, Haque has set out six measures, which he says aim to ensure the business’ future viability. This includes installing a new leadership team, restructuring the entertainment offering within the restaurant’s late night bar - Club Chinois, strategic pricing and menu engineering initiatives and discussions with the landlord aimed at reducing rental obligations for the next five years.
Haque stated: “These proactive steps are expected not only to stabilise the business, but also to position it for future growth under revitalised leadership and a more sustainable operating model.”
More than one in ten UK restaurants are thought to be at risk of insolvency
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