London's oldest fish restaurant Scott's is to close after more than 150 years in business.
The Mayfair restaurant is rumoured to have been on the market since the beginning of the year following the forced resignation of former managing director Brian Clivaz from both the restaurant and its sister establishment, Home House.
Inside sources said a deal with French hotel and restaurant group Costes had now fallen through and the restaurant's holding company, Berkeley Adam, wanted to close it.
Stephen Winston, managing director and financial director of Berkeley Adam, said: "We're giving serious consideration to the future of the business. With that in mind we're now in consultation with staff."
Staff have been informed that there will be a consultation period until 26 August, after which the restaurant could close at any time.
All staff, including Australian-born executive chef Michael McEnearney, will lose their jobs.
Winston would not confirm whether the restaurant would close, but sources believed that Berkeley Adam would shut the restaurant and probably refurbish it before trying to sell it.
"The company wants to close the restaurant for financial reasons," said one insider.
"It's a shame because the name of Scott's will just disappear."
Marlon Abela and Signature Restaurants are both rumoured to have looked at the site.
Source: Caterer & Hotelkeeper magazine, 5 August 2004