The Real Greek is to shut nine of its 28 UK restaurants, including four in London, resulting in 151 job losses after the hospitality chain entered administration. The affected London sites are in Dulwich Village, Spitalfields, The Strand, and Westfield in west London. The Westfield in Stratford will remain open.
Karali Group, which owns the Cote chain, confirmed on Friday that it has rescued the business after Japanese restaurant group Toridoll, the owner of The Real Greek's parent company Fulham Shore, placed it into administration. Karali will save 19 restaurants and secure the future of 358 workers, but the central kitchen will also close.
Marcel Khan, chief executive of Fulham Shore, said: '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.'
Toridoll attributed the struggles to high inflation, rising energy and food prices, and increased labour costs, which have created a challenging environment for the hospitality industry. Fulham Shore was bought by Toridoll in 2023 for £93.4 million.
Paul Berkovi, managing director at administrators Alvarez & Marsal, said: 'We have worked closely with The Real Greek’s management team and are pleased to have completed a transaction that secures a future for a restaurant group enjoyed by diners over many years.'
