The Sunday Times reports that the group, whose portfolio includes London venues Tropicana Beach Club, Café de Paris and Maxwell’s Bar and Grill, has appointed Live Recoveries as liquidator.
Live said restrictions on trading meant the company had no choice but to close.
“Despite hope that December would generate a much-needed upturn in trading income, it was apparent low customer numbers, uncertainty surrounding trading, and mounting creditors and rent arrears left the company with no alternative,” the liquidator said.
Maxwell's was set up in 1972 with the aim of bringing 'good quality American casual dining and service standards to the London restaurant scene', and operated a flagship restaurant on James Street in Covent Garden that subsequently relocated to nearby King Street in 2018 due to ''unsustainable rent increases'.
The group, which is controlled by Guards Polo Club chairman Brian Stein, also owns Palm Court Brasserie; PJ’s Bar and Grill; Old Compton Brasserie; Roadhouse; Sticky Fingers; and Boulevard Brasserie.
West End stalwart Café de Paris is one of the oldest nightclubs in London, originally opening in 1924.
It was acquired by Stein in 2002.
Howard Raymond, the son of 'King of Soho' Paul Raymond, who owns the freehold to the site, told The Times he received a letter on Friday (18 December) announcing the liquidation.
Liam Norval, who was marketing director at Cafe de Paris for 10 years, has described the closure as a huge loss for London's hospitality sector.
He said: “This is truly heart-breaking news.
"I spent almost a decade at this amazing venue and have some unforgettable memories that I will cherish for the rest of my life. I think back to some of the incredible parties we threw, celebrities we had through the door, the people I met and the friends I made.
"Café de Paris was an institution and will always be in my heart as I know it will be in many others. The team I worked with over that 10-year span were fantastic, and I call them all very dear friends today, I wish them all the very best of luck.
"Who knows if this is the end for Café de Paris - I certainly hope not.”