Côte owner buys The Real Greek

The owner of Côte Brasserie has bought The Real Greek restaurant group from The Fulham Shore via a pre-pack administration. 

Karali Group, which acquired the 70-strong Côte portfolio last year, has acquired 19 sites out of the 28 within The Real Greek business, as previous owners Fulham Shore undergoes a CVA for its remaining brand Franco Manca.

The deal will see nine sites close in Bristol, Dulwich Village, Edinburgh, Glasgow, Gloucester Quays, Solihull, Spitalfields, The Strand and Westfield London.

“Following a comprehensive strategic review, we have completed a pre-pack administration and sale of The Real Greek to Karali Group," says Fulham Shore CEO Marcel Khan. "Since acquisition by Toridoll, we have delivered clear and sustained improvements across the metrics that matter most to consumers, including Net Promoter Score and guest satisfaction. Such progress has been down to the hard work, commitment and dedication of our teams, who have delivered consistent performance, which has started to translate to green shoots of trading momentum.

"However, the sustained pressures facing the hospitality sector, including elevated cost inflation and a fiscal environment that continues to place UK operators at a disadvantage relative to international peers, present significant challenges even for businesses that are delivering progress. 

"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. I’m incredibly proud of the work of our teams who have worked tirelessly behind the scenes to support our recovery, which has helped save several sites. We will now do everything we can to support colleagues affected by his process and believe that both the brand and its teams will be in very good hands as the business moves into its next chapter."

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