UK-based restaurant chain The Real Greek is making plans to shut down nine of its locations, resulting in 151 job cuts as the company faces financial challenges. The parent company, Fulham Shore, announced that Karali Group, the owner of Cote Brasserie, has shown interest in acquiring 19 of The Real Greek’s 28 sites, potentially saving 358 out of 509 jobs.
The affected Real Greek outlets include Spitalfields, Westfield London, Dulwich Village, Bristol, Strand, Solihull, Gloucester Quays, Glasgow, and Edinburgh. The restaurant chain, established in London in 1999, is known for its Greek-inspired decor and menu offerings. Operating primarily in London, with additional locations in Scotland and England, The Real Greek reported an operating loss of £3.6 million in its last financial statement.
In a recent development, The Real Greek’s central kitchen is also slated for closure according to Propel, an industry publication. Fulham Shore, the umbrella company, is currently undergoing a restructuring process through a company voluntary arrangement (CVA) for its sister brand, Franco Manca, leading to the closure of 16 establishments and 225 job losses.
Toridoll, the company that acquired Fulham Shore in 2023, attributed The Real Greek’s struggles to challenging market conditions, including inflation and rising operational costs. Meanwhile, Fulham Shore expressed optimism about transferring the business to Karali Group, ensuring a more sustainable future for the brand.
Administrators Alvarez & Marsal, overseeing the restructuring process, emphasized their commitment to facilitating a smooth transition for the affected employees and stakeholders. The managing director highlighted the importance of securing a future for The Real Greek, a beloved dining destination for many patrons in the UK.
