Ping Pong has ceased trading and closed its remaining four restaurants, 20 years after the launch of the dim sum brand.
The restaurant group wrote on Instagram: “It’s a wrap. After 20 unforgettable years, all Ping Pong locations are now permanently closed. We’re incredibly proud of what we built, an independent hospitality brand full of creativity, flavour and soul.
“To everyone who joined us over the years, for dim sum dates, happy hours, bottomless brunches, and just-because catch-ups – thank you… It’s been sum-thing truly special.”
The group had been trading from restaurants in London’s Soho, Southbank, Bow Bells House and St Christopher’s Place prior to the announcement.
The closure comes after Ping Pong faced media backlash last year for replacing its service charge with a 15% discretionary ‘brand charge’ ahead of changes to tipping laws.
Ping Pong was founded by restaurateur Kurt Zdesar with the backing of Igor Sagiryan in 2005 and grew to 13 restaurants within four years.
It was famed for offering a selection of more than 40 types of dim sum, including steamed, fried and baked varieties with meat, seafood and vegetarian options. A set lunch menu in 2006 cost £11.
Zdesar left Ping Pong in 2007 and the business later closed several unprofitable sites. Following his departure, Zdesar launched Chotto Matte in 2013.
In recent years, Ping Pong had struggled with Covid debt and rent repayments. It reported trading losses of £1.4m in the year to March 2020 and a loss of £1.86m over the following 12 months before eventually posting a profit of £334,000 in the year to March 2022.
By the end of 2022, Ping Pong had halved its portfolio from its peak to six London restaurants and a central production kitchen and employed 255 people.
The group appointed administrators Begbies Traynor in November 2022 and completed a pre-pack sale of the business to three of its company directors for £3.21m the same day.
A report from Begbies Traynor at the time said the onset of the pandemic had caused “significant disruption” to the business, which had been kept afloat by a £500,000 loan from Sagiryan.
