Prezzo has said it is to close 46 loss-making restaurants as it struggles with soaring energy and food costs.
The move will put around 810 workers at risk of redundancy, the Italian restaurant chain said, although it will try to redeploy “as many staff internally as possible”.
The private equity-owned business said the cuts will affect sites where “the post-COVID recovery has proved harder than we had hoped”.
After the closures, the chain will have 97 restaurants and around 2,000 staff.
Dean Challenger, chief executive of Prezzo, 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
“But the reality is that the cost-of-living crisis, the changing face of the high street and soaring inflation has made it impossible to keep all our restaurants operating profitably.”
The restaurant group said that its utility bills had more than doubled, and it has been hurt by the cost of food, which reached a 45-year high last month.
“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.”
The list of the restaurants set to close:
Beccles
Billericay
Bolton
Borehamwood
Boston
Bracknell
Brentwood
Buckhurst Hill
Buckingham
Chichester
Chingford
Colchester
Corby
Didcot
Eastbourne
Egham
Eltham
Ely
Epsom
Fleet
Glasgow
St Vincent Place
Hailsham
Harpenden
Livingston
Lyndhurst
Maidstone
Mere Green
Mill Hill
Oxford
Plymouth
Redditch
Redhill
Rugby
Shepperton
Shirley
Sidcup
St Neots
Stowmarket
Tenterden
Tunbridge Wells
Weybridge
Whitstable
Wickford
Wimborne
Winchester
Woodford Green.
Read more:
Prezzo to close 46 loss-making restaurants placing 810 jobs at risk
