Chef Ernst van Zyl has pulled out of plans to open a restaurant in Manchester's Stockport after securing a site earlier this year.
Van Zyl told The Caterer: "Due to not being able to secure enough funding and not being able to reach a common middle ground with some of the legalities; we felt it was too big a risk to continue with the property especially when the hospitality industry is currently so volatile."
The chef had taken on the former Winter's jewellers and clockmakers site, more recently operating as Winter's wine bar, and planned to open a 46-cover modern British restaurant called Klok.
The South African chef had launched a crowdfunding bid to refurbish the site. He confirmed that no money would be taken from donors and the page would be closed down. He confirmed he will be seeking other opportunities.
Van Zyl was due to head the food offering at Signature Living's Cunard House venture in Liverpool as executive chef, however three months after the announcement it transpired his three-month contract with the company had expired and was not going to be renewed.