“I wish David and the management team every success for the future."

The Staff Canteen

Editor

Des Gunewardena, co-founder and chief executive of D&D London, has announced his departure from the restaurant group "to pursue other ventures" after 16 years in charge.

As a result, David Loewi, co-founder, chief operating officer, and deputy chairman of D&D, will take over as interim chief executive of the business.

In a statement, Des said: "I am very sad to be leaving D&D which I love and have seen grow from its first restaurant opening over 30 years ago in its Conran days to the fabulous business it is today.”

He added: “I will now be focusing on existing and new ventures outside D&D, I wish David and the management team every success for the future."

D&D was founded by the pair in 2006 from Conran Restaurants, where they worked together.

Commenting on this announcement David said: "Des has been an important part of D&D London's success and history, and we wish him all the best for the future."

D&D London has appointed its co-founder, COO and Deputy Chairman David Loewi as interim CEO, as Des Gunewardena leaves to pursue other ventures. @DandDLondon
— Richard Vines (@Richardvines) September 30, 2022

The group’s portfolio has expanded to include 40 restaurants across the UK and internationally, including London's Le Pont de la Tour in Tower Bridge and Coq d'Argent in Bank.

D&D also operates restaurants in Manchester, Leeds and Bristol and is due to launch Orelle, an 88-cover modern French restaurant, café and bar, in Birmingham on 14 October.

For the 15 months since April 2021, D&D's group revenues were at £163m, with trading at 90% of pre-Covid levels. Earnings before interest, taxes, depreciation, and amortization were £17m.

Commenting on D&D’s outlook, David explained: "Our restaurants are trading well as the UK leisure and hospitality scene recovers with workers returning to offices and business travel coming back. This resilience has enabled our group to retain a strong cash position and financial headroom.”

Despite the positive outlook, he warned: "We are also acutely aware of the challenging economic environment, particularly for our industry in the face of inflation and skills shortages, and so remain pragmatic over the outlook for sector and continuously keep our operations and strategy under review.”

The shock move comes after it was revealed that Baton Berisha, former managing director of D&D, was poached by rival restaurant company the Wolseley Hospitality Group three months after he joined the business.

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