D&D London has said it is in a ‘strong financial position’ as it sets out the second phase of its reopening strategy.

On 4 July, the high-end restaurant group reopened 17 sites in London, Manchester and Leeds, and it has since reported July and August trading to be ‘well above expectations,’ with the government’s Eat Out to Help Out scheme increasing weekly revenues by 15-20% this month.

Although its sites in central London are currently trading at just 50-60% of prior levels, its regional restaurants – in Manchester and Leeds – have been outperforming last year’s levels, despite coronavirus restrictions.

Between 28 August and 10 September, the business will reopen its South Place Hotel and the balance of its UK restaurant portfolio in the City and West End including Quaglino’s and 100 Wardour Street.

“The economics of operating restaurants at lower than normal revenues are very challenging,” said Des Gunewardena, chairman and CEO. “But the government EOTHO scheme and cut in VAT have been a huge help.

“Our landlords, not only in the UK but also in New York and Paris, have mainly been extremely supportive on rents. Most have granted rent free periods during lockdown and concessionary rents during the post Covid recovery phase. Many of our rents are turnover based and many more have been restructured to be turnover based going forwards.

“The business is in a strong financial position as we move into the next phase of reopening. Our cash position has been strengthened by the injection of funds by both shareholders and our banks. We have not applied for government loans in the UK but have secured state backed Covid loans for our operations in Paris and New York.

“Overall D&D is in good shape and we are confident about the future despite the undoubted challenges ahead.”

The venues to reopen in the next two weeks include:

100 Wardour Street (28 Aug)

Quaglino’s (28 Aug)

Avenue (2 Sept)

Bluebird White City (2 Sept)

Launceston Place (2 Sept)

Sartoria (2 Sept)

The Modern Pantry (2 Sept)

Aster (2 Sept)

Plateau (2 Sept)

New Street Grill (2 Sept)

Fish Market (2 Sept)

Old Bengal Bar (2 Sept)

New Street Wine (3 Sept)

South Place Hotel (3 Sept)

South Place Chophouse (3 Sept)

Angler (10 Sept)