TORIDOLL Holdings Corporation [3397.T]
TOKYO, Apr 16 (Pulse News Wire) – TORIDOLL Holdings Corporation (3397.T) announced today that its subsidiary, The Fulham Shore Limited, has decided to restructure part of its operations through the Company Voluntary Arrangement (CVA) process in the UK. The restructuring involves Franco Manca 2 UK Limited, which operates the pizza chain "Franco Manca." Franco Manca 2 UK Limited was established on October 15, 2009, and currently holds a capital of £100.
The company's major shareholder, Franco Manca Holdings Limited, owns 100% of the shares. As of March 2025, Franco Manca 2 UK Limited had total liabilities of £¥28,294 thousand. Recent financial performance shows declining revenues and profitability. In the fiscal year ending March 2025, revenue stood at £¥10,000 thousand, while operating loss reached £¥2,918 thousand. Net profit for the same period was negative £5,300 per share.
The proposed CVA aims to renegotiate lease agreements for unprofitable stores and optimize the store portfolio to reduce fixed costs and improve sustainability. A creditors' meeting is scheduled for early May to finalize the conditions of the arrangement. Additionally, discussions continue regarding the future of the "The Real Greek" operation, with updates to be provided as necessary. The impact on TORIDOLL Holdings' consolidated earnings remains under assessment due to ongoing negotiations and asset evaluations. Further developments will be disclosed promptly if significant changes occur.
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