Last month, the renowned French chef was at Brasserie Blanc in Walton Street, Jericho as the chain celebrated its 30th birthday.

At the end of a four-course meal he and his staff team served to invited guests, the 76-year-old was presented with a chef’s jacket signed by current and former members of staff at the restaurant.

Now Raymond Blanc has told The Times that although he still has a role at Le Manoir, and at Brasserie Blanc, he has handed over some of his work commitments so he can focus on spending more time with his family, including partner Natalia Traxel.

Raymond Blanc with partner Natalia Traxel (Image: Andy Ffrench)

He launched Le Manoir aux Quat’ Saisons at Great Milton in 1984, and in the four decades of its existence, the restaurant retained its two Michelin stars, including for 2025, making it 41 years in a row.

Le Manoir, now owned by Belmond, is currently closed on a temporary basis, after shutting its doors on New Year’s Day for a year and a half of refurbishments and renovations.

Some major changes have already taken place after five months of closure, with sculptures being removed from the site, including the large artichoke statue from the car park.

An aerial view of Le Manoir (Image: Ed Nix)

The celebrity chef, who will have the title of lifetime ambassador and founder” when Le Manoir reopens next year, explained how difficult it had been to make the temporary closure announcement.

He said: “You have to understand this was not a surprise decision. It was six years in the making, which included over two years applying for planning permission but that doesn’t mean there weren’t elements of sadness.”

One of the toughest parts was telling the staff – hundreds of people including some who had relocated to Oxfordshire to work at Le Manoir, whether it was in the kitchen, tending to the gardens and orchards, or cleaning the 32 rooms and suites.

“It was a very traumatic time,” said the chef.

Raymond Blanc at Le Manoir (Image: Newsquest)

“People who had houses, mortgages and kids in local schools suddenly had to reorganise their lives. Newspapers said everyone lost their jobs but that is absolutely not true. We managed to find more than 85 per cent of staff new jobs.

All through Christmas we were all on the phone – including myself – finding them for people.”

In January it was announced that one of France’s most decorated chefs, Arnaud Donckele, who has two three-star restaurants there, would be taking up the role of culinary director

A priority this summer for Raymond Blanc is to cut back on the number of days he is working in a row.

Chefs at Brasserie Blanc (Image: Andy Ffrench)

“I have not taken longer than 10 straight days off in 40 years. Usually I only take 20 a year,” he added.

From mid-July he will be taking a whole month off. 

“When I opened Le Manoir life was crazy. I was working, working, working and life at home was really suffering. So I am looking forward to spending more time with my family.”

The stationary and book shop has 450 sites across the UK including numerous former WH Smith branches across Oxfordshire.

These include stores in Cornmarket, Oxford, and in Witney, Abingdon, Chipping Norton, Didcot, Wantage and Banbury. The takeover came into effect a year ago.

READ MORE: TG Jones confirms stores may close

TG Jones could face insolvency without a rescue deal, according to a High Court hearing held on Monday, and about 150 stores could shut. A decision was expected today.

The company is seeking approval for a restructuring plan that would unlock a further £15m loan from its owners, Modella Capital, who already loaned £10m in April.

If stores close it will leave large empty retail units in towns and cities across the country.

The Toys R Us chain has a section in some TG Jones stores including the one in Oxford.

WH Smith in Cornmarket Street Oxford (Image: Contributed)

Tom Smith KC, representing TG Jones, said: “The business is highly distressed after suffering long-term sales decline.”

He told the court that without support, the company would face an £8m shortfall this week after paying tax, rent, suppliers, and payroll.

He added: “As is well known, the UK retail sector has faced serious trading difficulties in recent years.

“The problems facing the sector have their roots in macroeconomic factors such as high inflation, the shift to online shopping, reduced consumer spending, higher labour costs and increased taxes.”

TG Jones, which employs 4,700 staff across 450 stores, rebranded last year after being acquired by Modella.

WH Smith retained its travel-focused outlets in airports and train stations, including the shop at Oxford railway station.

If the restructuring plan is approved, around 150 shops are expected to close.

Mr Smith added: “That will assist in ensuring the future of the group.”

It has been a difficult year for the UK high street, with several retailers entering administration and others announcing widespread store closures.

Major high street brands LK Bennett and Claire’s both closed all their stores in April, having previously fallen into administration.

And clothing chain River Island shut stores, including one at Westgate Oxford.

River Island previously ran a store in Cornmarket Street, and switched to the Westgate centre in 2017.

Discount brand Poundland has also closed a number of stores across the UK.

Some chains, however, have also opened new stores, including M&S, which has opened a new foodhall in Abingdon. Aldi and Superdrug have also opened new stores.

The 18,000 sq ft store opened at the Fairacres Retail Park off Marcham Road in April.

A new Lidl supermarket has been given planning permission in Didcot but has not yet opened.

KAREN JOY BACUDO

Finance Editor

Lloyds and Legal & General have passed £1.5 billion in participations through their fund finance co-investment partnership, which has been in place since December 2022.

The partnership combines bank-led origination and structuring from Lloyds with institutional capital from Legal & General to provide finance across a range of fund facilities. The latest figure points to continued demand for short-duration funding in private markets.

Fund finance has grown as private market activity has expanded. Fund managers use these facilities to bridge capital calls and manage cash flows between fundraising cycles, giving sponsors access to liquidity at different stages of a fund’s life.

For banks, such arrangements provide a way to originate deals while bringing in outside pools of capital. For institutional investors, they offer access to short-dated assets that can meet demand for lower-duration exposure.

The partnership also supports Legal & General’s broader short-term alternative finance strategy, which stands at £2 billion. The insurer and asset manager said the model gives it access to a pipeline of investments for clients, including insurers, pension schemes and other institutional investors.

Lloyds said it has developed its offering to financial sponsor clients over several years as market demand has changed. The bank described the structure as part of a broader effort to combine its lending origination with institutional backing to provide larger volumes of financing.

The milestone comes as private markets continue to attract capital and financing needs become more varied. Liquidity facilities have taken on a larger role for sponsors seeking to maintain investment activity while managing the timing gap between investor commitments and cash deployment.

A senior Lloyds executive said the result reflected both the scale of the market and the durability of the relationship with Legal & General.

“Surpassing £1.5bn with L&G reflects both the strength of this partnership and the depth of our experience supporting financial sponsor clients with innovative financing solutions. We have worked closely with clients in this market for many years, evolving our financing solutions as their needs change and supporting them by combining our origination capabilities with institutional capital to deliver funding at scale. This partnership is a strong example of our solutions-led approach and our focus on building long-term, sustainable relationships that support clients across market cycles,” said Jill Wilson, Managing Director, Financial Sponsors, Lloyds.

Legal & General said demand from insurers for shorter-duration assets with strong credit quality had helped support the strategy behind the arrangement.

“This milestone underlines the growing importance of partnerships between banks and institutional investors in supporting the evolution of private markets. By working with Lloyds, we are able to access high-quality, short-duration assets for our clients, where we are seeing particularly strong demand from insurers for low-duration investments with robust credit quality. Structures like this are an important part of how we scale our short-term alternative finance strategy while supporting the financing needs of private market sponsors,” said Matthew Taylor, Head of Alternative Debt, Asset Management, L&G.

The transaction volume suggests co-investment structures of this kind are becoming more established in parts of the private credit and fund finance market, where banks and long-term investors are looking for ways to share risk and extend lending capacity.

Legal & General manages £1.2 trillion in total assets, about 43% of which is held internationally. Lloyds remains one of the UK’s largest retail and commercial banks, with a broad customer base spanning consumers, businesses and financial institutions.