Franco Manca owner mulls expansion as sales rebound
It wants to open 10 new restaurants in this financial year in the UK.
London-listed Fulham Shore, the owner of sourdough pizza chain Franco Manca and The Real Greek is eyeing new restaurants in the UK and abroad as sales rebound.
The company, run by former Pizza Express boss David Page, said a new team was set up “to explore and progress the international development of both businesses.”
The group, which has 55 Franco Manca pizzerias and 19 The Real Greek restaurants, expects to size up its UK footprint to over 230 restaurants before the end of the decade.
It also revealed plans to open ten new restaurants in this financial year ending in March, and has identified over 150 additional locations for potential new restaurants.
The company’s total revenues for the eight weeks from 21 June to 15 August averaged over £1.5 million per week, an 8% increase compared to the same period in 2019.
It has also seen a “stark” difference in performance at its city centre restaurants and those in regional locations and coastal towns, with like-for-like sales at its 17 restaurants in London's West End and other city centre locations tumbling 41% in the period whilst those outside saw 30% like-for-like sales ahead of pre-COVID levels.