"Franco Manca has been a reliable spot for great Neapolitan-style pies since it first launched in Brixton in 2008. Sadly, it's taken a financial hit in recent years."
"The decision is part of a company voluntary arrangement (CVA) process, which received backing from over 90 percent of voting creditors. The process essentially allows the company repay creditors over a fixed period while continuing to trade under existing management."
"Owners put the closures down to 'disproportionately high' UK taxes and a lack of business rates relief for the closures. It said that the affected sites are 'no longer sustainable'."
"Franco fans in London will still have plenty of places they can go for the brand's signature sourdough (made from a starter that dates back to the eighteenth century!). A total of 32 branches in the capital will remain up and running."
Franco Manca, known for its Neapolitan-style pizzas, is shutting down 16 branches across the UK, with nine closures in London. The decision follows a company voluntary arrangement supported by over 90% of creditors. The closures are attributed to high UK taxes and unsustainable business conditions. Despite the closures, 32 branches in London will remain operational. The parent company, Fulham Shore, also recently placed The Real Greek into administration, although most of its sites were saved by a new owner.
Read at Time Out London
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