Home / Business and Economy / Franco Manca Slashes 16 Restaurants, Jobs Cut
Franco Manca Slashes 16 Restaurants, Jobs Cut
15 Apr
Summary
- Franco Manca to close 16 restaurants impacting 225 jobs.
- Parent company cites high UK taxes and lack of relief.
- CVA restructuring process launched for Franco Manca business.
Franco Manca, a popular restaurant chain, is preparing to close around 16 of its locations, a move that will affect approximately 225 employees. This significant restructuring is being undertaken by its parent company, The Fulham Shore, which also operates The Real Greek chain.
The decision stems from external cost pressures, including substantial increases in national insurance and the national living wage, alongside high VAT in the UK compared to other European nations. Marcel Khan, chief executive of Fulham Shore, highlighted that these factors make a minority of their sites "no longer sustainable."
Fulham Shore has initiated a company voluntary arrangement (CVA) restructuring process specifically for the Franco Manca brand. This action follows a period where bosses had explored strategic options, including a potential sale. The company stated it is deeply saddened by the closures and committed to supporting affected team members.
