Ping Pong has shut down operations and closed its last four restaurants, marking the end of the dim sum brand 20 years after it was first launched.
The restaurant group posted on Instagram: “It’s a wrap. After 20 unforgettable years, all Ping Pong locations are now permanently closed. We’re incredibly proud of what we built, an independent hospitality brand full of creativity, flavour and soul.
“To everyone who joined us over the years, for dim sum dates, happy hours, bottomless brunches, and just-because catch-ups – thank you… It’s been sum-thing truly special.”
Before the announcement, the group operated restaurants in London’s Soho, Southbank, Bow Bells House, and St Christopher’s Place.
The closure follows media criticism last year when Ping Pong replaced its service charge with a 15% discretionary ‘brand charge’ ahead of changes to tipping regulations.
Ping Pong was founded in 2005 by restaurateur Kurt Zdesar, supported by Igor Sagiryan, and expanded to 13 locations within four years.
The brand was well-known for its wide range of over 40 dim sum varieties, including steamed, fried, and baked options featuring meat, seafood, and vegetarian choices. In 2006, a set lunch menu was priced at £11.
Zdesar left Ping Pong in 2007, and the business subsequently closed several unprofitable locations. After his departure, he went on to launch Chotto Matte in 2013.
In recent years, Ping Pong faced challenges with Covid-related debt and rent payments. The company reported trading losses of £1.4 million in the year ending March 2020, followed by a loss of £1.86 million over the next 12 months, before finally posting a profit of £334,000 in the year ending March 2022.
By the end of 2022, Ping Pong had reduced its portfolio from its peak to six London restaurants and a central production kitchen, employing 255 people.
In November 2022, the group appointed administrators Begbies Traynor and completed a pre-pack sale of the business to three of its company directors for £3.21 million on the same day.
A report from Begbies Traynor at the time stated that the onset of the pandemic caused “significant disruption” to the business, which was sustained by a £500,000 loan from Sagiryan.
