London-based dim sum chain Ping Pong has permanently ended operations after 20 years in the restaurant market.
The company confirmed the closure of its last four locations in Soho, Southbank, Bow Bells House and St Christopher’s Place — through social media.
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In a message posted on Instagram, the company wrote: “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.”
Founded in 2005 by restaurateur Kurt Zdesar with investment from Igor Sagiryan, Ping Pong rapidly gained traction, growing to 13 outlets within four years.
Caterer Licensee Hotelier reported that the chain was known for its diverse dim sum menu, featuring more 40 types, steamed, fried, and baked with options for meat, seafood and vegetarian preferences.
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By GlobalDataThe business underwent significant shifts after Zdesar’s exit in 2007, prompting the closure of less profitable sites.
Recent years brought considerable difficulties, with the company burdened by debts incurred during the Covid-19 pandemic and ongoing rental commitments.
For the year ending March 2020, the group booked a £1.4m loss, which widened to £1.86m in the subsequent year.
Despite a temporary rebound with a £334,000 profit in the year to March 2022, long-term sustainability remained elusive.
By late 2022, Ping Pong had downsized to six London venues and a central kitchen, employing 255 people, a sharp decline from its peak of 13 sites.
