A high-end Chinese restaurant in central London has been rescued through a successful pre-pack administration process led by Opus Restructuring and Insolvency, safeguarding around 30 jobs and ensuring the continuation of the restaurant’s well-known brand and concept.
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.
The restaurant was founded by a former executive chef from Hakkasan, to create a premium Chinese dining experience in the capital. However, challenging trading conditions and operational pressures ultimately placed the business under significant strain.
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.
Ben Stanyon, Partner at Opus, comments, “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.”
He continues, “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 the new buyer said, “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.”
The successful transaction highlights Opus’ continued commitment to business rescue and recovery solutions that prioritise business continuity, job preservation and long-term value wherever possible.
