Prezzo has said it will close 46 restaurants around the UK, around one-third of its total.
As many as 810 jobs are at risk after Monday’s news (April 24), although the Italian chain has said it will look to move as many staff as possible into the 97 existing eateries.
The restaurants closing include London locations such as Chingford, Buckhurst Hill, Eltham, Mill Hill, and Woodford Green.
Dean Challenger, chief executive of Prezzo, said: “The last three years have been some of the hardest times I have ever seen for the high street and I’m extremely proud of the way our colleagues have retained Prezzo’s position as an appealing, trusted, great-value food and drink experience.
“But the reality is that the cost-of-living crisis, the changing face of the high street, and soaring inflation has made it impossible to keep all our restaurants operating profitably.”
The news comes two years after Prezzo shut 22 other restaurants, which led to 216 jobs going. The latest closures are said to be of loss-making branches.
Prezzo has struggled on the back of the Covid-19 pandemic and the cost of food reaching a 45-year high last month. Prices for spaghetti, tomato sauce, and dough have all shot up in recent months, making life hard for an Italian restaurant.
The chain fell into administration during the pandemic but was rescued by private equity owners Cain International.
What Prezzo branches are closing across the UK?
The restaurants due to close are:
Beccles, Billericay, Bolton, Borehamwood, Boston, Bracknell, Brentwood, Buckhurst Hill, Buckingham, Chichester, Chingford, Colchester, Corby, Didcot, Eastbourne, Egham, Eltham, Ely, Epsom, Fleet, Glasgow, St Vincent Place, Hailsham, Harpenden, Livingston, Lyndhurst, Maidstone, Mere Green, Mill Hill, Oxford, Plymouth, Redditch, Redhill, Rugby, Shepperton, Shirley, Sidcup, St Neots, Stowmarket, Tenterden, Tunbridge Wells, Weybridge, Whitstable, Wickford, Wimborne, Winchester, Woodford Green.
