who owns franco manca

The company that owns Franco Manca and Real Greek is eyeing an increased number of restaurants across both brands as revenue continues to grow. Image credit`; https://www.francomanca.co.uk/. The restaurant group behind pizza chain Franco Manca has said it will take advantage of lower rents and open new sites despite seeing trade impacted by the pandemic. With the company’s two highly attractive restaurant businesses, prudent management approach and reduced debt levels prior to Covid-19, the directors believe that the company is firmly in the ‘survive and prosper’ group.”. The group has opened six new Franco Manca pizzerias including one in Bishopsgate, as well as one new The Real Greek restaurant, near Tower Bridge. The comments came as part of a wide-ranging interview in The Times today. Entrepreneur bucks hospitality trend with wedding venue plans for North East acquisition, Sunderland riverside office development given green light for 2021 construction, ‘Netflix for the restaurant industry’ smashes £250k Seedrs target to launch London sites, "An appalling misjudgement": Industry leaders react to post-lockdown restrictions, More than 100 jobs to be created at Newcastle energy consultancy, £300m regeneration scheme takes shape in Leeds with engineering firm onsite, Leeds industrial development set to create 2,000 ‘sustainable’ jobs, North East escooter firm rolls into future with £500k investment for expansion. We look forward to continuing this positive momentum in the period ahead.”. Fulham Shore said they are ending the financial year with 61 restaurants, comprising 44 Franco Manca outlets in the UK, 1 Franco Manca in Italy and 16 The Real Greek sites. Copyright © 1997-2020 Mulberry Publications Ltd. All rights reserved. In a trading update, Fulham Shore also revealed the majority of Franco Manca restaurants (49 of 51) and The Real Greek restaurants (14 of 18) have now re-opened, serving customers through a combination of dine-in, takeaway, click and collect and delivery – with early signs in both businesses deemed as “promising”. Looking to promote your product/service to SME businesses in your region? By 2008 he had had enough and asked his friend Giuseppe Mascoli if he wanted to take it over. The UK is currently going through unprecedented times, News on the UK's fastest growing startup businesses. In 1986 Francos was a pizzeria in Brixton Market owned by, you guessed it, a guy called Franco. They expect to report that both revenue and headline EBITDA will be ahead of last year’s figures. They recently opened four new Franco Manca sites in the financial year ending March 31, located Bath, Cambridge, with the third just off the Aldwych in London and the fourth, opening last week, opposite the steps of St Paul’s Cathedral and the London Stock Exchange. Fulham Shore has also launched a Franco Manca loyalty scheme and mobile app. You cannot switch off these cookies. In the board’s opinion, many of these businesses were those with poor products, overpriced menus and stretched balance sheets, sometimes combined with owners inexperienced in how to run restaurants, control costs and look after cash.”, It concluded: “In the aftermath of all the above downturns, many good restaurant businesses survived and came out stronger. It added that due to social distancing requirements, the board estimates that its re-opened restaurants can operate at approximately 60 to 70%of their previous dine-in capacity – with the reduction in capacity to “some extent” having been compensated by an increase in delivery and takeaway sales. Catering Today is the must-read news and business intelligence resource for the restaurants, pubs and bars industry. “The performance was driven by seven successful new restaurant openings as well as increased customer numbers in our restaurants. The owner of Franca Manca, Fulham Shore, has announced it completed a £2.25m equity raise and has also entered into a new £10.75m debt facility and agreed new terms for its existing £15m banking facilities. The group, which also owns the Real Greek Restaurants brand, said the funds have improved the group’s balance sheet and positions it on “sound financial footing” to operate throughout the current pandemic. The company’s net debt (excluding lease liabilities) is currently at £8.8m - down from £8.9m in 2018. 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