Image Restaurants prepares for floatation

Image Restaurants, the operator of trendy London eateries The Avenue and Kensington Place, is gearing up for floatation early next year.

The group revealed yesterday it had appointed City advisers Seymour Pierce to oversee a review of its options, which include floatation on the Alternative Investment Market or a sale.

Image Restaurants chief executive, Chris Bodker, who owns a majority shareholding in the business, said he is considering an initial public offering that could value the group at more than £20m.

Bodker said: "The board agreed two years ago that at this stage we would seek professional advice on what to do next, which is what we're doing."

Image Restaurants also owns Launceston Place, The Fish Shop in London's Notting Hill and Soho's Circus.

By Jessica Gunn

Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.