The Real Greek to close 9 restaurants despite rescue deal

The Real Greek will be keeping a total of 19 locations open (out of a possible 28), after Japanese restaurant group Toridoll, the owner of The Real Greek’s previous parent company, Fulham Shore, was placed into administration.

Cote owner Karali Group confirmed on Friday (May 1) that it had struck a rescue deal for the business.

Although more than 100 jobs will be lost, the new owner said it will secure the future of 358 workers.

Industry publication Propel reported that The Real Greek’s central kitchen will also be closed.

The restaurant chain’s website shares: “At The Real Greek, we believe food is more than what’s on the plate, it’s a feeling.

“Rooted in the flavours of the Eastern Mediterranean, our menu celebrates the dishes you’ll find in homes and tavernas across Greece.

“From flame-grilled souvlaki and traditional meze to fresh salads, warm flatbread and time-honoured recipes, everything we serve is designed to be shared.

“Simple ingredients. Bold flavours. Honest cooking.”

It adds: “But what truly defines us is filoxenia, the Greek philosophy of heartfelt hospitality.

“It’s about generosity, warmth and making every guest feel welcome, like they’ve stepped into someone’s home rather than just a restaurant.

“We bring people together over dishes that take you to Greece.

“Whether you’re gathering for a celebration, a casual catch-up or a spontaneous midweek meal, our aim is always the same: to create moments worth sharing.”

Which Real Greek restaurants are closing in the UK?

The Real Greek restaurants closing across the country, according to the BBC, are as follows:

• Spitalfields, London
• Westfield, London
• Dulwich Village
• Bristol
• Strand, London
• Solihull
• Gloucester Quays
• Glasgow
• Edinburgh

Full list of The Real Greek locations remaining open after rescue deal

However, these are The Real Greek sites that will stay open:

• Bankside, London
• Bluewater
• Bournemouth
• Bracknell
• Braintree
• Covent Garden, London
• Liverpool
• Manchester – Corn Exchange
• Manchester – Trafford Centre
• Marylebone, London
• Norwich
• Sheffield Meadowhall
• Soho, London
• Southampton
• St Martin’s Lane, London
• St Paul’s, London
• Tower Bridge, London
• Westfield, Stratford City
• Windsor

Last month, Fulham Shore said it was reviewing future options for the Greek restaurant chain.

It announced the review as it launched a company voluntary arrangement (CVA) restructuring process for sister restaurant brand Franco Manca, which will see it shut 16 venues with the loss of 225 jobs.

What happens when a company goes into administration?

Marcel Khan, chief executive of Fulham Shore, said: “The transaction will ensure that the business is placed on a more sustainable footing for the future, while allowing The Fulham Shore to focus its energy and investment behind Franco Manca and its significant growth potential.

“We’re pleased to be handing it over to Karali with real momentum.

“We will now do everything we can to support colleagues affected by this process and believe that both the brand and its teams will be in very good hands as the business moves into its next chapter.”

Toridoll said earlier on Friday that The Real Greek had suffered more due to current poor trading conditions.

It said: “In recent years, high levels of inflation in the UK, driven by rising energy and food prices together with increase in labour costs resulting from rises in the minimum wage, have created a more challenging operating environment for the hospitality industry than initially anticipated.”

Toridoll added: “The deterioration in the economic environment has had a more significant impact on the Greek restaurant brand The Real Greek than on the Franco Manca business.”

Fulham Shore was bought by Toridoll, with backing from investment firm Capdesia, in 2023 for £93.4 million.

Recommended reading:

Paul Berkovi, managing director at administrators Alvarez & Marsal, said: “We have worked closely with The Real Greek’s management team and are pleased to have completed a transaction that secures a future for a restaurant group enjoyed by diners over many years.

“Our immediate focus as administrators will be to provide a smooth transition for the business and to support employees affected by site closures.

“We are grateful to all stakeholders for their constructive engagement throughout this process.”

Newsquest has contacted The Real Greek for comment.