Healthy eating food to go brand Friska has completed a company voluntary arrangement (CVA), with the closure of its three sites in Manchester.

Co-founder Ed Brown told MCA it was “very much a covid-19 related CVA”, and said there were “no winners” from the process, which has seen redundancies across the estate.

He said the 12-strong company had been unable reach consensual agreements with its landlords, following a sharp drop-off in footfall.

Friska is based primarily around central business districts and universities.

Brown said: “Like most of the sector, we stopped making our quarter rent payments, and we went down to the consensual route to try and get agreement, but unfortunately we didn’t get that.

“So we had to launch a CVA to clear those rent arrears, which we did.”

He said the Manchester cluster, its first outside Friska’s Bristol heartland, had been making progress, but was more expensive to maintain with low revenue.

After completing the CVA with advisors Mazars, Friska has moved to monthly rent, with a much lower rent to revenue figure.

The brand is considering whether to keep some of its remaining eight Bristol sites open for takeaway and delivery during lockdown.

Brown said he was grateful to their landlord for cooperating.

He added: “It’s terribly sad we had to make a large part of our team redundant, across Bristol and Manchester.

“There’re no winners in this process. It’s not an opportunistic CVA.”