Restaurant closures confirmed after rescue deal cooked up

Prezzo restaurant in Harborne

Five restaurants in the West Midlands are to close after the details of the survival deal by restaurant chain Prezzo was revealed.

The group is to close 30% of its restaurants, putting around 1,000 jobs at risk out of a workforce of 4,500.

The group is to close 94 of its 312 UK restaurants as part of a company voluntary arrangement (CVA) deal after becoming the latest casualty in the casual dining sector.

Burger chains Ed’s Easy Diner, Handmade Burger Co and Byron and Italian restaurants Jamie’s Italian and Strada have also restructured and shut restaurants in order to remain open.

61 Prezzo restaurants are to close, including those in Hereford, Stratford-upon-Avon and West Bromwich. In addition, all 33 of its TexMex chain of Chimichanga restaurants, which has sites in Solihull and Telford, are to shut.

Private equity firm TPG Capital bought Prezzo for £300m in 2014.

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