Prezzo earmarks East Midlands sites for closure
A pair of Prezzo restaurants in Lincolnshire and Northamptonshire are set to be axed as part of a raft of closures planned by the casual Italian dining chain.
The company’s sites in Boston and Corby are just two of 46 outlets earmarked for closure across the UK, with the cuts reportedly putting 810 jobs at risk.
Prezzo CEO Dean Challenger has blamed the proposed closures on “the cost-of-living crisis, the changing face of the high street and soaring inflation.”
The skyrocketing cost of energy and ingredients had made it “impossible to keep all our restaurants operating profitably”, he added.
It is understood the affected outlets are all loss-making.
Challenger 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.”
“We believe the tough decisions we are making today will ensure Prezzo can continue serving communities with high-quality, accessible Italian-inspired meals for many more years to come”, Challenger added.
Prezzo, which is backed by private equity firm Cain International, closed 22 restaurants in 2021 following a period in administration the previous year.
