The Real Greek Closes 9 Restaurants

The Real Greek, a UK restaurant chain, has entered administration, leading to the closure of 9 of its 28 restaurants and 151 job losses. This follows the administration of its parent company, Toridoll Holdings, which owned The Real Greek through its subsidiary The Fulham Shore. Karali Group has brokered a rescue deal, acquiring 19 of The Real Greek's locations and safeguarding 358 jobs. The closures are attributed to high inflation, rising energy and food prices, and increased labor costs in the United Kingdom, which have created a challenging operating environment for the hospitality industry. The Fulham Shore had also initiated a company voluntary arrangement (CVA) restructuring process for its sister brand, Franco Manca, resulting in 16 outlet closures and 225 job losses. Marcel Khan, CEO of The Fulham Shore, stated the transaction would place The Real Greek on a more sustainable footing, allowing The Fulham Shore to focus on Franco Manca's growth potential. Paul Berkovi of Alvarez and Marsal, the administrators, confirmed the transaction secures a future for the restaurant group.