Karali Group Saves 19 The Real Greek Restaurants
Karali Group has bought 19 of the real greek’s 28 restaurants, and the rescue deal will save 358 of 509 jobs. The move follows Fulham Shore’s plan to appoint administrators for the chain, leaving nine sites outside the sale.
Marcel Khan on the rescue
Marcel Khan, Fulham Shore’s chief executive, said the pre-pack administration and sale to Karali would place the business on a more sustainable footing. He also said the chain had shown “clear and sustained improvements” and “green shoots of trading momentum” since Fulham Shore was purchased by Toridoll in 2023.
19 outlets is the key number for store coverage: Karali is taking most of the estate, but not all of it. Nearly half of The Real Greek tavernas are in London, with the remainder spread between Scotland and the rest of England, so the transaction preserves a large share of the network rather than a single regional cluster.
£3.6m loss and sector pressure
£3.6m was The Real Greek’s last reported operating loss, a reminder that the chain was not trading through the restructuring from a position of strength. Toridoll said the business had been hit by “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.”
358 jobs will remain after the sale, but 151 are not covered by the rescue and the nine excluded restaurants face a separate outcome. Two weeks ago, Fulham Shore said it was closing 16 of around 70 Franco Manca restaurants across the UK as part of a company voluntary arrangement, or restructuring plan, and Khan said then that “Even restaurant businesses that are doing all the right things from a customer and operational perspective are not immune to widely publicised pressures impacting the hospitality industry.”
The Real Greek was founded in London in 1999, and the deal now gives Karali control of most of the chain’s estate while Fulham Shore narrows its focus to Franco Manca and “its significant growth potential.” For employees, the immediate issue is whether they are among the 358 whose roles are saved or the 151 left outside the rescue.
