Franco Manca owner Fulham Shore says reopening sales beat pre-Covid levels
Franco Manca owner Fulham Shore said sales had boomed since outside trading at its restaurants reopened, beating pre-Covid levels.
Group sales in the week ended 18 April were ahead of the same wee in April 2019, before the coronavirus pandemic hit the UK.
Following the “very encouraging” first week of outdoor trading, Fulham Shore said it is pushing ahead with expansion plans to take advantage of post-lockdown deals.
It has inspected sites across the UK, including in London, York, Durham, Newcastle, Edinburgh, Glasgow, Cardiff, Liverpool and Manchester for potential new Franco Manca or The Real Greek branches..
The restaurant chain said it had viewed locations that became available due to competitors falling into insolvency.
“Sites of this nature have a lower opening cost to the group compared to shell units,” it said.
“We therefore expect a reduction in the group’s average capital expenditure per new site in the short term, and that this should improve our return on capital.
“The group continues to be presented with a number of excellent potential retail locations, almost on a daily basis.
“The board hopes that Fulham Shore can contribute towards the revival of town centres with new restaurant openings as the Covid-19 restrictions ease. We look forward to recruiting many new staff members to our great teams at Franco Manca and The Real Greek in preparation for the new restaurants that we intend to open.”