100 restaurants under threat as latest group feels the heat

Prezzo restaurant in Harborne

Restaurant chain Prezzo has plans to shut one-third of its 300 UK restaurants as it becomes the latest business in the casual dining sector to feel the heat.

Around 1,000 jobs are at risk out of a workforce of 4,500 if Prezzo is abe to get support for its company voluntary agreement (CVA) plans.

Handmade Burger Co, Byron, Jamie’s Italian and Strada are among the chains that have already had to restructure or close restaurants, while independents such as Rofuto and Turner’s at 69 have also suffered and shut.

Prezzo has 12 West Midlands restaurants – in Bridgnorth, Bromsgrove, Harborne, Leamington Spa, Malvern, Mere Green, Redditch, Rugby, Shirley, Stratford-upon-Avon, Telford and West Bromwich – although it is not yet known which of its sites are under threat of closure.

The Italian chain is owned by the US private equity group TPG Capital. It is looking to undertake a CVA to reduce rents across its branches and the proposals will need to be approved by landlords and creditors.

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