Simpsons buys London bars

London-based restaurant group Simpsons of Cornhill has bought two London bars in a £1.5m deal, which marks the start of a strategy of diversification.

The ‘O' Bar in Soho and Bar Royale in Camden have no catering at present and Simpsons intends to introduce a bar snack menu.

The two sites are said to be in need of some minor refurbishment work.

Sandy Singh, chief executive of Simpsons' parent group, Baldwin, said he expected to see a good return on the investment. "One bar had profits of £200,000 before head office costs. Hopefully it will be a lot higher under our management," he said.

The move comes in the wake of the sale of eight Muswell's café-bars that were not making sufficient profits for the group.

Baldwin also acquired 51% of the Café de Paris nightclub and bar in Leicester Square last month.