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PRIVACY
Retail & Consumer

Prezzo closures: list in full as 22 restaurants close permanently

The firm said it was closing part of its 178-strong portfolio to protect the majority of it's 2,900 jobs

The 22 Prezzo stores which will be closed for good after lockdown

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.