Pizza chain blames tax rises for closing down restaurants

• Popular pizza chain Franco Manca is poised to close around 16 restaurants, a move expected to affect approximately 225 jobs.
• Parent group The Fulham Shore cited "disproportionately high" UK taxes, a lack of business rates relief, and other rising costs as key reasons for the closures.
• A Company Voluntary Arrangement (CVA) will be launched for Franco Manca, targeting a "minority of its sites" that are no longer deemed sustainable.
• The decision follows Fulham Shore's engagement of advisers two months ago to explore strategic options, including a potential sale or restructure.
• The Fulham Shore, which also operates The Real Greek chain, was acquired by Japanese restaurant group Toridoll in 2023 for £93.4 million.

IN FULL

Pizza chain Franco Manca to shut 16 restaurants with hundreds of jobs at risk