Signature Restaurants, the group behind upmarket restaurant The Ivy, has reported a slump in profits at its Belgo and Bierodrome outlets and said it will close one of its upmarket bars. Like-for-like sales at the Belgo and Bierodrome restaurants and bars fell by 18% in the six months to 30 December, prompting new CEO Andy Bassadone to sell the Collection bar-restaurant on the popular Brompton Road, acquired just three years ago.