-- Toridoll (TYO:3397) will pursue restructuring proceedings for a UK subsidiary operating the Franco Manca pizza brand to improve profitability, according to a Thursday filing on the Tokyo Stock Exchange.
The plan involves filing for a company voluntary arrangement to revise lease terms for underperforming stores and optimize the portfolio.
The move follows a weaker-than-expected recovery after the 2023 acquisition of Fulham Shore, as inflation, higher energy and food costs, and rising wages weighed on margins.
The subsidiary had total liabilities of about 6.0 billion yen as of end-March 2025.