Major restaurant chain to close 16 stores in blow to the high street - full list of locations
Rachel Reeves raises taxes at a high rate
|GBNEWS

The decision will result in approximately 225 job losses across the affected sites
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Franco Manca has confirmed it will shut 16 of its pizza restaurants after creditors gave overwhelming backing to a restructuring deal.
More than 90 per cent of those who voted supported the company voluntary arrangement, paving the way for the closures to proceed.
Parent company The Fulham Shore announced plans for the CVA last month, with the pizza chain currently operating 70 venues before the planned shutdowns.
The restructuring received the necessary creditor support to move forward with the proposed changes to the business.
The pizza chain attributed the closures to "disproportionately high" UK taxes and the absence of business rates relief for restaurant operators.
Franco Manca stated that the 16 sites earmarked for closure had become "no longer sustainable" under these conditions.
The difficulties facing The Fulham Shore extend beyond its flagship pizza brand.

Franco Manca to close 16 restaurants in blow to the high street
|GETTY
Last week, the company placed its sister chain The Real Greek into administration.
Karali Group, which owns Cote, swiftly acquired the Greek restaurant business but confirmed that nine of its 28 locations would not survive the transition.

The pizza chain was operating 70 venues before the planned shutdowns
| GETTYMarcel Khan, chief executive of Fulham Shore, expressed gratitude for the creditor support, stating: "Franco Manca is a fantastic brand with a strong heritage and loyal customer base.
"With this agreement in place, we will put the business back on a firm footing and press ahead with strengthening our customer offer and performance."
Franco Manca is preparing to close roughly 16 of its pizza restaurants | PIZZA EXPRESSPaul Berkovi, managing director of Alvarez & Marsal, noted that the vote reflected "constructive engagement across stakeholders."
He added: "Against a challenging backdrop for the sector, this is an important step for Franco Manca, enabling the business to complete its financial restructuring and secure the platform for its operational transformation."
The following sites will close:
- Battersea
- Bishops Stortford
- Brixton
- Broadway Market
- Bromley
- Cheltenham
- Chiswick
- Didsbury
- Glasgow
- Hove
- Kilburn
- Lincoln
- New Oxford Street
- Plymouth
- Stoke Newington
- Tottenham Court Road










