Karali Group, which also operates the Côte Brasserie chain, has bought the restaurants from Japanese restaurant group Toridoll, which owns The Real Greek’s parent company Fulham Shore, saving 358 out of 509 jobs.
Nine The Real Greek sites will close, in Spitalfields, Westfield London, Dulwich Village, Bristol, Strand, Solihull, Gloucester Quays, Glasgow, and Edinburgh.
“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,” says Fulham Shore chief executive Marcel Khan.
“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.”
Paul Berkovi, managing director at administrators Alvarez & Marsal, adds: “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.”
