So yet again there has been another casualty on the High Street with the upmarket restaurant chain, Prescott and Conran going into administration with the loss of 168 jobs.
Insolvency practitioners from Duff and Phelps said the business was hit by 'a period of sustained change' in the restaurant trade.
Lutyens in London’s Fleet Street, Parabola in Kensington, and the Albion in Clerkenwell are the last remaining of the sites following a restructuring of their portfolio.
Sir Terence Conran was a highly influential designer and entrepreneur with his heyday being in the 90s with famous restaurants like Soop Kitchen, Orrery, Quaglino's, Mezzo, he worked with Joel Kissin on Le Pont de la Tour, Blueprint Cafe, Butler's Wharf Chop House, together with restaurants in various other countries.
He sold the majority of these restaurants in 2007. However, he set up the Prescott and Conran chain in 2006 to keep him busy.
It now looks like that venture has come to an end but the Conran family will continue to run the Boundary Project, a boutique hotel in Shoreditch.