Prezzo set to close 100 branches

Restaurant chain Prezzo could close 100 of its 300 branches in the UK, putting around 1,000 jobs at risk.

The Italian chain, which is owned by the US private equity group TPG Capital, has 11 branches across Yorkshire and Humber – two in York, two in Sheffield, two in Leeds, and branches in Harrogate, Ripon, Beverley, Catterick and Hull.

Prezzo is looking to undertake a company voluntary agreement (CVA) to reduce rents across its branches and the proposals will need to be approved by landlords and creditors.

The firm employs around 4,500 people across the UK.