Full list of 16 Franco Manca restaurants to close including in Scottish city
Restaurant chain Franco Manca will push ahead with the closure of 16 venues after a restructuring plan was approved by creditors, including one location in Scotland.
The Glasgow city centre location for Italian restaurant chain Franco Manca will close after the company deemed the site no longer suistainable. Last month, parent firm The Fulham Shore said it planned to shut the sites as part of a company voluntary arrangement process, which will also hit around 225 jobs.
The pizza brand currently runs 70 restaurants prior to the closures but said it has been knocked by “disproportionately high” UK taxes and a lack of business rates relief for restaurants.
The effected restaurants were “no longer sustainable” as a result. Franco Manca’s CVA proposal received back from more than 90% of voting creditors, allowing it to get the go ahead.
Franco Manca opened its first Glasgow restaurant on 3 June 2021. Located at 93 Mitchell Street in the city centre, it was the chain's second site in Scotland, following their Edinburgh opening in 2019.
Last week, Fulham Shore placed its sister restaurant brand The Real Greek into administration.
It was immediately snapped up by Cote owner Karali Group but announced the close of nine of its 28 restaurants.
Marcel Khan, chief executive of Fulham Shore, said: “We are grateful for the support shown by our creditors today.“Franco Manca is a fantastic brand with a strong heritage and loyal customer base.
“With this agreement in place, we will put the business back on a firm footing and press ahead with strengthening our customer offer and performance.”
Paul Berkovi, managing director of Alvarez & Marsal, said: “Today’s vote saw a significant majority of the company’s creditors support the CVA, reflecting constructive engagement across stakeholders.“Against a challenging backdrop for the sector, this is an important step for Franco Manca, enabling the business to complete its financial restructuring and secure the platform for its operational transformation.”
The following sites will close:
Battersea
Bishops Stortford
Brixton
Broadway Market
Bromley
Cheltenham
Chiswick
Didsbury
Glasgow
Hove
Kilburn
Lincoln
New Oxford Street
Plymouth
Stoke Newington
Tottenham Court Road
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