An imminent deal is likely to see the operators of London's The Wolseley restaurant regain full control of their operations, three years after their co-owners fell into administration.
Mark Kleinman from Sky News has reported that Jeremy King and Chris Corbin, the founders of Rex Restaurant Associates, are expected to buy back the chunk of the company that has been controlled by BDO Stoy Hayward, the administrators handling the responsibilities of the collapsed Dawnay Day.
The pair may not stay full owners for long, however, if their aims for the company go to plan. The two restaurateurs are now planning to open a new London restaurant - the Brasserie Zédel - on the site of the former Regent Palace Hotel, and are said to be in talks to sell a stake in Rex to a club of private investors.
Kleinman reported this week that the two have already been approached by investors keen to buy into the popular and high-profile name of Rex's current venues and future projects. These include a planned new Central London hotel called The Beaumont, and a possible development on a site in Sloane Square, for which Rex is said to have lodged a bid. 
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