Restaurateur Sir Terence Conran has given up day-to-day management of the Conran Restaurant group.

The group, which owns some of London’s best-known restaurants, including the Pont de la Tour and Quaglino’s, has changed its name to D&D London.

The name change came in the wake of a recent management buyout of 49% of Conran Restaurants, which was valued at £50m, from Conran Holdings.

The buyout was led by Des Gunewardena and David Loewi, the CEO and managing director of Conran Restaurants Ltd, supported by Bank of Scotland Corporate, which will be committing a further £10m to the new company for future ventures.

‘I can no longer take a detailed day-to-day interest in the large number of restaurants we have, which was one of the main reasons for the sale,’ said Sir Terence Conran. ‘I am convinced that personal involvement is necessary to nurture a first-class restaurant.’

Conran, who is widely acknowledged to be one of the UK’s most successful restaurateurs, says that he will not be giving up the restaurant business entirely.

His company, Conran and Partners, will design all D&D London’s restaurants, and he maintains joint ownership of Bibendum in Fulham, and the new Boundary project in Shoreditch – a restaurant, café and rooftop gardens which opens later this year.

‘Des and David want to inject a new spirit and energy into the group,’ said Alpana Deshmukh, a spokesperson for the new company.

‘We have lots of exciting plans for the future, including the opening of a new restaurant in Japan in April, and another in London’s Royal Festival Hall, which is due to launch at the end of May.’

Written by Natasha Hughes