Franco Manca heads to Greece for first overseas restaurant
The Fulham Shore-owned group has entered into a franchise agreement for Greece with Franco Manca EE Limited, a company founded by a group of experienced local operators and investors.
David Page and Nabil Mankarious, both directors of the company, each will have a beneficial interest of 5% of the issued share capital of Franco Manca EE Limited.
The first opening will be in the Athens metropolitan area and two sites are being secured in Nea Filadelfia and Peristeri (both suburbs of Athens).
The group says that it is exploring a number of additional international territories where franchised restaurants could be opened, and is currently in discussions on territories in Europe, Middle East, and Africa.
In its most recent trading update, Fulham Shore - which also operates The Real Greek chain - noted that its sites in the West End of London and city centres are performing well as office worker and tourist footfall improve.
The total number of restaurants operated by the group now stands at 76 (56 Franco Manca and 20 The Real Greek) with works underway for a further Franco Manca on Baker Street and another two The Real Greek - in the Bluewater Shopping Centre, Kent and at The Corn Exchange in the centre of Manchester.
The group says its pipeline continues to grow with 20 more potential sites in solicitors’ hands for both new Franco Manca and The Real Greek restaurants.
“Fulham Shore continues to experience growing sales across both our businesses. Many of our restaurants throughout the UK continue to break trading records on a regular basis," says chairman David Page.
"This is due to our customers returning to us in great numbers since trading restrictions were lifted and our loyal teams who have stuck with us during a difficult 18 months."
We are maintaining margins in both our businesses as the rise in our restaurant sales is enabling the Group to deal with the well flagged inflation of utility costs and the wage increases that have been instigated.
