Published • loading... • Updated
Over 200 jobs LOST as popular restaurant shuts 16 sites including Glasgow branch
- Franco Manca confirmed it will close 16 UK restaurants after creditors approved a company voluntary arrangement restructuring plan. The sourdough pizza chain, including its Didsbury location in Greater Manchester, will shutter as part of the financial restructuring.
- The pizza chain cited "disproportionately high" UK taxes and a lack of business rates relief for restaurants as key pressures. Franco Manca said the affected venues were "no longer sustainable" as a result of these financial headwinds.
- More than 90% of voting creditors backed the CVA proposal, giving the restructuring the green light to proceed. The closures will impact around 225 jobs across the company's nationwide operations.
- The closures reduce Franco Manca's nationwide footprint from 70 restaurants to 54 locations. Key Manchester sites including Piccadilly Gardens and King Street remain operational.
- Parent firm The Fulham Shore recently placed sister brand The Real Greek into administration last week, with Cote owner Karali Group acquiring 19 of its 28 outlets. The dual restructuring reflects mounting pressures across the UK restaurant sector.
Insights by Ground AI
16 Articles
16 Articles
Franco Manca confirms 16 restaurant closures after restructuring approved
Last month, parent firm The Fulham Shore said it planned to shut the sites as part of a company voluntary arrangement (CVA) process. Restaurant chain Franco Manca will push ahead with the closure of 16 venues after a restructuring plan was approved by creditors. Last month, parent firm The Fulham Shore said it planned to shut the sites as part of a company voluntary arrangement (CVA) process, which will also hit around 225 jobs. The pizza brand …
Coverage Details
Total News Sources16
Leaning Left4Leaning Right3Center5Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 33%
C 42%
R 25%
Factuality
To view factuality data please Upgrade to Premium
