Pizza chain Franco Manca to shut 16 venues in UK

UK-based pizzeria concatenation Franco Manca is closing astir 16 of its restaurants, The Independent reported.

The determination is expected to interaction astir 225 employees.

Specialising successful Neapolitan sourdough pizza, the institution operates astir 70 sites successful the UK and is owned by The Fulham Shore, which besides runs The Real Greek edifice chain.

The proprietor told the work that a “minority of its sites” were “no longer sustainable”, linking the determination successful portion to “disproportionately high” UK taxes and the lack of concern rates alleviation for edifice operators.

Fulham Shore main enforcement Marcel Khan has confirmed that a institution voluntary statement (CVA) is besides being prepared for Franco Manca.

The determination follows the assignment of advisers 2 months agone to measure strategical options for the pizza brand, including a imaginable merchantability oregon a wider restructuring.

Fulham Shore is besides understood to beryllium continuing to analyse plans for The Real Greek.

Khan was quoted by The Independent arsenic saying: “Even edifice businesses that are doing each the close things from a lawsuit and operational position are not immune to wide publicised pressures impacting the hospitality industry.

“This includes important increases successful nationalist security and the nationalist surviving wage successful caller history, arsenic good arsenic a deficiency of concern rates alleviation for the edifice assemblage and disproportionately precocious VAT successful the UK compared with Europe.

“This is wherefore we person taken the hard determination to undertake a CVA for Franco Manca, which volition spot a number proportionality of our restaurants closing wherever they are nary longer sustainable successful this outgo environment.”

Khan added that it volition supply enactment to the affected employees successful “every mode that we can”.

The radical was acquired successful 2023 by Japan’s Toridoll edifice group, backed by concern institution Capdesia, successful a woody worthy £93.4m.

"Pizza concatenation Franco Manca to unopen 16 venues successful UK" was primitively created and published by Verdict Food Service, a GlobalData owned brand.

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