The Real Greek Rescued, Nine Sites Close

0:00On May 1st, the real Greek restaurant chain, with 28 spots across the UK, including two and Manchester, just entered administration, but scored. A rescue deal from Coat Owner Karali Group, they're shutting nine sites as part of the restructure, though exact locations aren't out yet. Karali's taking over just 19 of those restaurants, leaving the rest up in the air. That means 151 jobs gone from the closures, plus their central kitchen's closing too. From the flip side, 358 positions stay safe under new ownership. Execs say it's putting the business on firmer ground amid brutal trading conditions, like skyrocketing energy, food costs, and minimum wage hikes, hitting hospitality, hard. This comes after full-em-sure. bought by Japanese Group Torridol last year for over 93 million pounds, shopped the chain around. Their sister brand, Franco Monkas, also cutting 16 spots and 225 jobs through a similar fix.

1:01Administrators are now laser focused on a smooth handover and helping those hit by layoffs, setting the real Greek up for its next chapter in a tough industry.