Young’s will re-open the Smiths site in the City, which it acquired last November, this spring under the name The Candlemaker, MCA understands.

The company said it would de-brand the site in Cannon Street, when it acquired the business alongside its iconic sister site, ‘SMITHS’ of Smithfield. The latter site immediately became Young’s largest venue when it was acquired last November, with an average weekly take of over £100,000.

On The Candlemaker, the company said: “We’ll be serving flavour packed, seasonal British food from breakfast through to dinner along with delicious coffee, quirky craft beers and exquisite cocktails. Open early till late, we’ll be a venue suitable for all occasions. Meetings with clients, post work drinks and even private parties on the weekends!”

Chief executive Patrick Dardis said at the time of the deal for the two Smiths sites: “We are delighted to have acquired the iconic ‘SMITHS’ of Smithfield, which sits in the heart of the City, as well as its sister venue in Cannon Street, since the period end. Both sites are a fantastic fit with our portfolio of premium managed sites, with their focus on world class steaks, breakfasts, craft beer and quality drinks and we are very excited about the potential for us to build upon their existing offer going forward. It’s unlikely we will roll the brand out. That’s not what we bought it for. The first thing we will do is de-brand the Cannon Street site.”