A sign sits on display outside a Prezzo Plc restaurant in Guildford, U.K., on Monday, March 5, 2018. Toys R Us Inc.s U.K. unit and electronics chain Maplin collapsed into the British equivalent of bankruptcy protection, deepening a retail crisis prompted by the rise of online shopping and worsened by the pounds plunge after the vote to leave the European Union. Photographer: Jason Alden/Bloomberg via Getty Images

Italian restaurant chain Prezzo is set to close 94 of its branches across the UK as their ‘position is not sustainable’. In a difficult time for the business, the restaurants the would not be profitable even with reduced rent are to be closed, whilst remaining landlords will be encouraged to consider reduced rent. Prezzo CEO, Jon Hendry-Pickup said: The well-documented pressures on our industry mean a number of our restaurants are underperforming. ‘While we continue to be profitable and cash-generative, our position is not sustainable, so we must take decisive action now to ensure we’re able to thrive in the future.’

 

Prezzo Italian restaurant in St Martins Lane. (Photo by: Loop Images/UIG via Getty Images)

The doomed restaurants are expected to close within the next eight weeks, with hundreds of job losses expected. Hendry-Pickup added: ‘We recognise this process will impact many of our team members and their families.

We are committed to keeping them informed, and will be doing all we can to support them during this difficult time.’

All Prezzo restaurants closing.

Abergavenny Alton Amersham Arundel Barnet (High Street) Barnstaple Bedford, (MEXIco) Belfast (Victoria Square) Belfast (Boucher Square) Beverley Blackpool Blandford Bournemouth Chimichanga

READ MORE BY FOLLOWING THE HIGHLIGHTED LINK BELOW.

Canterbury Cardiff (Chimichanga) Carlisle Carmarthen Catterick Chatham (Chimichanga) Chelmsford (Baddow Road) Chester (Chimichanga) Cobham (Cleaver) Cramlington Crawley (Chimichanga)

 

 

 

 

 

 

 

 

 

 

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