"The transaction will ensure that the business is placed on a more sustainable footing for the future, while allowing The Fulham Shore to focus its energy and investment behind Franco Manca and its significant growth potential."
"We will now do everything we can to support colleagues affected by this process and believe that both the brand and its teams will be in very good hands as the business moves into its next chapter."
The Real Greek restaurant chain is closing nine locations and laying off 151 employees after a rescue deal that saved most of its operations. Founded in 1999, the chain has been partially acquired by the owners of Côte Brasserie. Only 19 of the 28 UK restaurants will remain open. The restructuring follows the administration of its parent company, Fulham Shore, which is also closing 16 Franco Manca restaurants. The CEO expressed optimism about the brand's future under new ownership while supporting affected employees.
Read at London Business News | Londonlovesbusiness.com
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