Dawnay Day, the £2bn financial group with stakes in restaurants, bars, pubs and hotels, has called in administrators to restructure some of its businesses. The group, which has a 50% share in The Wolseley restaurant and a 29.4% stake in Premium Bars and Restaurant, has bought in Ernst & Young to advise it on its strategic options after failing to secure last minute funding. Dawnay Day controls and owns stakes in a range of assets, including Indeed Group, the tenanted pubco, Dawnay Day Shore Hotels, the quoted hotel company and 19 individual hotels including the Carlton hotel in Edinburgh and The Lygon Arms in the Cotswolds. The company is understood to have received several approaches for some of its businesses, although there has been no comment about which assets may be placed into administration. The move comes as Dawnay Day was forced to sell a 20% stake in F&C Asset Management at a loss of more than £80m at the end of last week, following a margin call from its financial backers. Guy Naggar and Peter Klimt, the owners of Dawnay Day, are thought to have been hit by the credit crunch, unable to raise capital to meet their existing financial commitments.