The owners of a prominent UK restaurant chain that has been rescued from the edge of collapse have revealed which of its locations will shut their doors and which will remain trading.
The Real Greek Rescue Deal
The Real Greek's owners had announced their intention to appoint administrators for the Mediterranean restaurant business. However, Karali Group, which late last year acquired the 70-strong Cote Brasserie chain, has tabled an offer for the majority of the smaller operator's sites.
A statement on behalf of The Real Greek's parent company, Fulham Shore, confirmed that 358 out of 509 jobs would be protected. Japanese restaurant group Toridoll, which owns Fulham Shore, had announced on Friday its plans to appoint administrators, sparking fears the chain could shut down entirely. Toridoll stated that The Real Greek had been hit by the 'deterioration in the economic environment'.
List of Closing Branches
The Real Greek sites set to close are:
- Spitalfields
- Westfield London
- Dulwich Village
- Bristol
- Strand
- Solihull
- Gloucester Quays
- Glasgow
- Edinburgh
Future of the Chain
Fulham Shore chief executive Marcel Khan said the company had achieved 'clear and sustained improvements' since its acquisition by Toridoll in 2023. This had begun to translate into 'green shoots of trading momentum', he added. 'However, the sustained pressures facing the hospitality sector, including elevated cost inflation and a fiscal environment that continues to place UK operators at a disadvantage relative to international peers, present significant challenges even for businesses that are delivering progress,' he said.
He explained that the 'pre-pack administration' and sale to Karali would put the business on a more stable foundation while enabling Fulham Shore to concentrate on Franco Manca and 'its significant growth potential'.
The Real Greek, which launched in London in 1999, states its mission is to 'take you to Greece'. Almost half of its 'tavernas' are located in London, with the remainder distributed between Scotland and the rest of England.
