Franco Manca to shut 16 restaurants with 225 jobs at risk.
UK pizza chain Franco Manca is closing around 16 of its restaurants, putting 225 jobs at risk, as part of a major restructure.
Source: Sharecast
Parent group The Fulham Shore said it was implementing a company voluntary arrangement (CVA), stating a "minority of its sites" were "no longer sustainable". It comes two months after advisers were commissioned to look at strategic options including a potential sale or a restructure.
Specific locations among Franco Manca’s roughly 70 outlets were not yet been disclosed. The company blamed a rise in the minimum wage and higher business rates for the decision.
Fulham Shore was bought by Japanese restaurant group Toridoll, with backing from investment firm Capdesia, in 2023 for £93.4m.
Reporting by Frank Prenesti for Sharecast.com
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