The owner of a large restaurant chain has named 150 potential new locations for restaurants.
Fulham Shore, who owns sourdough pizzeria chain Franco Manca, has hinted that the mass shutdowns of businesses during the pandemic opened up huge potential for its business to expand.
The Franco Mancas closest to Lancashire are currently in Leeds and Manchester, but restaurant expansion could see the county enjoying some of the best Italian cuisine in the months to come.
Shares in the London-listed group, which also includes the Real Greek chain, recently confirmed that all 74 of their restaurants, including 55 Franco Manca and 19 Real Greek locations, are now open after pandemic closings.
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David Page, executive chairman of the group, says expansion could begin almost immediately, with more than half a dozen new restaurants set to open soon.
He said: “In line with our long-term expansion strategy, we have built a strong pipeline in new locations, supported by favorable rental terms and the Group’s strong liquidity position.
“We are planning to open 10 locations in the current financial year and have identified more than 150 additional locations in line with our medium-term planning.”
The group announced that it has opened two new Franco Manca stores since April, while a new Real Greek store is under construction in Norwich.
Mr Page added that the group will seek to accelerate its expansion plans as trading conditions continue to stabilize.
The update came when the company confirmed that revenue had increased 41.3% to $ 40.3 million for the year ended March 28.
It also declined to an operating loss of £ 4.8m for the year compared to a profit of £ 1.8m last year.
“Since the beginning of the current fiscal year, which begins on March 29,” said Mr. Page.
“The group has continued to operate profitably and has exceeded management expectations, driven by strong performance in our on-site restaurants.
“As of July 2021, all restaurants will be open and operational without restrictions, welcoming more and more customers as the UK vaccination program progresses.
“The momentum has also been maintained in our takeaway and delivery channels, which continue to exceed the level of 2019.”
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