Clapham House Group, the restaurant operator behind the Gourmet Burger Kitchen and Tootsies chains, is understood to have received private equity approaches both for its individual brands and the company as a whole.

The interest in the company, which is being advised by Noble & Company and Investec, follows a profit warning in December that fuelled fears over consumer spending and sent shares tumbling across the wider restaurant sector.

Clapham, which was unavailable for comment last night, is understood to have received interest from at least three private equity-backed management teams for its struggling Tootsies brand worth up to £20 million.

Separately, it is believed to have rebuffed an approach from Gondola Holdings for its fast-growing Gourmet Burger Kitchen brand. Gondola, which is backed by Cinven, owns the PizzaExpress and ASK chains and has been examining possible acquisitions. Clapham, led by former PizzaExpress executives David Page and Paul Campbell, is believed to have rejected Gondola's offer after receiving informal approaches for the whole company from unidentified private equity firms.

Analysts said that the group, which has more than 90 eateries, was unlikely to agree to a sale only of its Gourmet Burger brand. One said: “Why would they sell their most successful brand and leave themselves with three brands - the Real Greek, Bombay Bicycle Club and Tootsies - with far more limited growth prospects?”

The future of Clapham House may lie in the hands of Capricorn Ventures International (CVI), the private equity firm behind the Nando's chicken chain, which has taken advantage of the fall in the share price since the profit warning to build a 25 per cent stake.

CVI, which is controlled by the Enthoven family, is believed to be considering the possibility of making a bid, although it has yet to make an approach. In 2003, CVI teamed up with TDR Capital to acquire PizzaExpress which at the time was run by Mr Page.

Clapham House sent shockwaves through the restaurant sector in December when it warned that profits over the next two years would be “significantly below original expectations”.

It said that although trading in its high street restaurants, notably its Gourmet Burger chain, was holding up well, many of its Tootsies eateries had suffered a decline in footfall and it had decided to pare back ambitious expansion plans.

A sale of one or more of its smaller chains would give it sufficient funds to resurrect its previous expansion targets for Gourmet Burger. However, few analysts expect the company to retain its independence, citing a likely takeout price of more than 250p a share.

Shares of Clapham, which on the day of the profit warning plunged from 248p to 150p, closed 1p lower at 188p, valuing the company at £69 million, or almost £83 million including debt.

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