Customers of upscale restaurant chain The Ivy Collection have a limited period to spend years worth of cashback after it closed its points scheme. 

Diners signed up to Ivy Premier Rewards received an email on Tuesday, September 29 saying that they could no longer earn points. 

It previously offered a generous deal where members could earn 5 per cent cashback on their bill at Ivy restaurants, to be spent on future meals. 

The email said they would have until October 29 to redeem any existing points, after which any unused ones would expire. 

The Ivy said it was 'working on a new loyalty programme' but gave no further details. 

A spokesman said: 'Our guest services team has actively been contacting members with higher balances directly to confirm they have until December 30 2026 to redeem their full value across our restaurants and to assist with table bookings to ensure every earned point is enjoyed.'

A couple who are This is Money readers and Ivy regulars got in touch to say that they had 6,867 points on their account, worth £342. 

They said they would struggle to spend such a large amount in one month and had made a complaint to the restaurant chain. 

The typical main course at the Ivy's locations in London costs between £20 and £45, with starters and desserts between £10 and £15.

It extended the time they had to spend their points until December 30.

It said it would be contacting other customers with large balances to offer them an extension. 

A spokesman said: 'We are immensely grateful to our guests who have participated in Ivy Premier Rewards and for the loyalty they have shown us.

'As we prepare to unveil an elevated, newly designed guest recognition programme for the new year, we want to ensure members have ample opportunity to enjoy the rewards they have earned. 

'While smaller, immediate-use balances remain redeemable over the standard notice period, we recognise that guests with higher accumulated rewards may require more time.'

Founded in 1917 in London's Covent Garden, the original Ivy restaurant is well known as a celebrity haunt having hosted Winston Churchill, Laurence Olivier and Madonna over the years. 

It opened its first spin-off location in 2014 and has since expanded across the country with more than 40 restaurants including in locations such as Birmingham, York and Edinburgh. 

It has also opened under names such as Ivy Asia, Ivy Brasserie and Ivy Cafe. 

The points programme is run via the restaurant chain's Ivy Club app. 

It was launched three years ago, meaning regular customers have had time to build up substantial balances. 

Singer Rod Stewart promoted the app at its launch in October 2023, as his whisky brand Wolfie's is stocked at Ivy restaurants. 

As well as the cashback, other perks offered to app members included priority reservations, free dishes on their birthday and access to the Ivy Club, the members' club above the original Ivy restaurant in Covent Garden, once per year. 

The Ivy chain was previously owned by British business leader and 'King of Mayfair' Richard Caring via his company Caprice Holdings. 

He sold his stake in his hospitality empire to Abu Dhabi-based DIAFA for £1.4billion in April this year, in one of the biggest deals in restaurant history, but remains as executive chairman of Caprice.