A list in full can now be published of the 22 restaurants Prezzo is closing, with the loss of more than 200 jobs.
The high street chain’s 178 restaurants have been closed to diners during lockdown, although takeaway and delivery has been offered by some.
Private equity company Cain International is now closing a number of eateries after it bought the firm back from administrators, in a pre-pack deal to secure its future last week.
The firm said it took the action to protect the majority of Prezzo’s 2,900 employees, though it resulted in 216 redundancies.
The deal came after Prezzo collapsed into administration after failing to reach agreement with landlords on rent payments, less than two months after Cain International had bought the business.
Prezzo will continue to be led by its existing management team.
As of February 10 2021, Prezzo’s restaurants had been able to operate for just 25 weeks out of the previous 52 weeks – but fixed costs and rent have been accumulating in that period, the chain has said.
It marks the second time that the firm has taken such action.
Back in March 2018 the firm had closed 94 of its restaurants after securing a deal with creditors for a CVA, leading to it shutting unprofitable branches and securing rent reductions.
The list in full of Prezzo closures
Aberdeen Marishal Sq
Weston Super Mare
Milton Keynes Kingston Centre
London Marble Arch
Isle of Wight
London South Woodford
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