Venetian-style small plates concept Polpo has filed for notice of administration, according to the Times.

Last year, the group underwent a company voluntary agreement (CVA) following a combination of over-investment in head office infrastructure and focus on “expensive but ultimately ineffective” marketing initiatives in 2018.

At the time, it put its Polpetto sites in Soho and Notting Hill Gate up for sale, and has since placed two of its London sites – Farringdon and Covent Garden – on the market, as well as closing its remaining regional site in Brighton.

The brand currently operates two remaining sites – In Soho’s Beak Street, which reopened at the beginning of August, and Chelsea’s Duke of York Square.

Last month, co-founder Russell Norman stepped down from his role of director from the group, for reasons that he said he “will happily talk about when the time is right. Or maybe when the time is wrong. Or maybe not at all.

“But it was my decision and I thought about it long and hard before doing it,” he said on Instagram. “My Magic 8-Ball came in handy too.

“My business partner and I are still sole joint-shareholders of Polpo Ltd but I have no operational involvement in the restaurants. We continue to work together on other projects. It’s a simple as that.”

The chain declined to comment on news of its administration process.