Franco Manca secures CVA approval for major restructuring plan
This allows the company to invest in its remaining restaurants and explore future growth.
Franco Manca has confirmed that its proposed Company Voluntary Arrangement (CVA) has been approved after more than 90% of voting creditors by value backed the plan.
“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," said Marcel Khan, chief executive of Fulham Shore, the owner of Franco Manca.
The CVA gives the company scope to invest in its remaining restaurants and consider future growth plans.
As part of the restructuring, the company will close its sites in Battersea, Bishops Stortford, Brixton, Broadway Market, Bromley, Cheltenham, Chiswick, Didsbury, Glasgow, Hove, Kilburn, Lincoln, New Oxford Street, Plymouth, Stoke Newington, and Tottenham Court Road.
