Mayfair revival: Mortons private members’ club sold out of administration
A Mayfair club once populated by celebrities including Lindsay Lohan and Pippa Middleton has been sold out of administration with plans to reopen next year.
Administrators for Berkeley Square’s Mortons Club have sold the building, fixtures and goodwill out of administration after the company ceased to trade in 2020.
Graham Bushby and Nick Edwards of RSM UK Restructuring Advisory LLP were appointed as joint administrators of the private members’ club on January 31 last year.
Directors of the business decided to appoint administrators after the club struggled with cashflow pressure.
Mayfair mogul Marlon Abela was behind Mortons as well as two Michelin star restaurant The Square and Kyoto inspired Michelin Star restaurant UMU London, all of which RSM were appointed to last year.
The Square ceased to trade while UMU was sold successfully out of administration, with the business and some 20 jobs saved.
Restauranterer Marlon Abela told The Telegraph earlier this year that he was on the hunt for “something with more seats, more volume and more casual dining.”
He added: “I want people to come out saying, ‘You know what? That was good value for money.’”
Mortons was originally built for the Chancellor of the Exchequer in 1823 and was known as a popular haunt of the Bentley Brothers in the 1920s.
In recent years, high profile Londoners to be pictured paying the four-storey venue a visit include former British Prime Minister David Cameron.
“This deal will secure the future of an iconic Mayfair building which hopefully will be reopened after refurbishment in 2022 – helping to maintain the vibrancy of Berkeley Square as the industry unlocks post-Covid,” Graham Bushby, partner at RSM Restructuring Advisory, said.
Managing debt and cashflow will be key to support venues with their post-pandemic recovery as London hospitality venues face acute pressures including staff shortages, the partner added.