Fry renews bid for Groucho Club through Zoo Hotel business
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Fry renews bid for Groucho Club through Zoo Hotel business

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Benjamin Fry, owner of Zoo hotels and founder of the K-bar nightclub chain, has renewed his interest in London's A-list Groucho Club. Fry is to raise £1m through an Ofex flotation of his Zoo Hotel business, which owns both the Westbourne in Notting Hill and Sydney in Chelsea. The offer, which stands at 200p a share for an initial 14.9 per cent stake, is less than a previous offer. Last spring Fry made a 230p-a-share offer to Groucho's 315 shareholders including Salman Rushdie, Steve Martin and Lord Archer, which was subsequently rejected. This time, however, Fry is offering shareholders shares in his Zoo business in order to push ahead with restoring the Soho venue to its glory days: I have seen the current management miss too many opportunities and fail to deliver on too many promises. I would love to play a role in restoring the club to its rightful place in the London social scene, Fry commented. Other bidders rumoured to be interested include Joel Cadbury and PR guru Matthew Freud. It girl Tara Palmer Tompkinson is advising Fry on the deal. Groucho Club shares currently stand unchanged at 145p.

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Benjamin Fry, owner of Zoo hotels and founder of the K-bar nightclub chain, has renewed his interest in London's A-list Groucho Club.
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