Richard Caring reportedly steps away from Corbin & King battle

Ivy owner Richard Caring has reportedly signalled he has pulled out of the running to take control of restaurant group Corbin & King.

The holding company for the business, which owns sites including the Wolseley (pictured) and the Delaunay), was placed into administration last month with founder Jeremy King and investor Minor International battling for control of the group.

Caring was understood to be among those considering a bid for Corbin & King, but The Sunday Times reported that he said: "at this moment, I am not intending to pursue [the deal]".

The paper said Caring had been due to meet with Minor, which is based in Thailand, last week.

The Sunday Times quotes Caring praising King and his co-founder Christopher Corbin, saying: "They're the guys that actually started this whole image and impression of hospitality in London."

The move comes after King accused Minor of trying to "seize control" of the company. He reassured customers in a video that it was "very much business as usual" at the restaurants.

King is seeking to buy back his company with backing from US investment fund Knighthead Capital, which has reportedly offered to repay £38m of debt owed to Minor.

Minor is said to have received between 35 and 40 expressions of interest in the company.