Franco Manca to close 16 restaurants in move that will cost 200 jobs

• Pizza chain Franco Manca will close 16 of its restaurants, impacting approximately 225 jobs, after creditors approved a restructuring plan.
• The closures are part of a company voluntary arrangement (CVA) process, which received over 90 per cent backing from voting creditors.
• Parent company The Fulham Shore cited "disproportionately high" UK taxes and a lack of business rates relief as reasons for the affected venues being "no longer sustainable".
• This follows the recent administration of its sister brand, The Real Greek, which also saw nine restaurant closures despite being acquired by Cote owner Karali Group.
• Marcel Khan, chief executive of Fulham Shore, stated that the agreement would put the business on a firm footing and strengthen its customer offer.

IN FULL

Franco Manca confirms restaurant closures in major restructuring plan