Full list of towns and cities where Prezzo restaurants are for the chop
Italian chain Prezzo confirmed this week that it is closing 94 restaurants.
The company has launched a company voluntary arrangement (CVA) which states that it will close branches which would not be profitable even with a rent reduction. Landlords for another portion of the estate will be asked to consider a reduced rent.
Update: Prezzo creditors green light deal to close 94 restaurants and reduce rents
Jon Hendry-Pickup, CEO of Prezzo, said yesterday: “Prezzo’s core business today is fundamentally strong and has fantastic potential. However, 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.”
Estimates of job losses are in the hundreds, though Prezzo has said it will try to redeploy staff where possible.
“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.” Hendry-Pickup added.
According to the terms of the CVA, leases on the 94 restaurants on the chopping board will be terminated in the next eight weeks.
Many of the sites closing are Prezzo's subsidiary brands: Chimichanga, MEXIco and Cleaver.
Anyone can download the full CVA proposal from a page on Prezzo's website.
The full list of sites marked for closure
Abergavenny
Alton
Amersham
Arundel
Barnet (High Street)
Barnstaple
Bedford, (MEXIco)
Belfast (Victoria Square)
Belfast (Boucher Square)
Beverley
Blackpool
Blandford
Bournemouth (Chimichanga)
Braintree (Freeport Village)
Brentwood
Bromley (Chimichanga, East Street)
Canterbury
Cardiff (Chimichanga)
Carlisle
Carmarthen
Catterick
Chatham (Chimichanga)
Chelmsford (Baddow Road)
Chester (Chimichanga)
Cobham (Cleaver)
Cramlington
Crawley (Chimichanga)
Dalton
Darlington
Deansgate – Manchester
Derby (MEXIco)
Ealing (Chimichanga)
Eastleigh (Chimichanga)
Edinburgh (Pier Place)
Falmouth
Fareham (Chimichanga)
Glasgow Fort
Gloucester
Guildford
Halstead
Haywards Heath
Hereford
Hereford (Chimichanga)
Hornchurch (Chimichanga)
Ipswich (Chimichanga)
Kettering
Kingston
Leicester (Silver Street)
Lewes
Lincoln
Maidstone (MEXIco)
Midhurst
Milton Keynes (Chimichanga)
New Brighton
Newbury
Newcastle
Newquay
Northwood
Norwich (Thorpe Road)
Nottingham (Low Pavement)
Penarth
Peterborough (Chimichanga)
Port Solent (Chimichanga)
Trustees Ltd
Poulton
Ripon
Sheffield (Valley Centertainment)
Sheffield (Ecclesall Road)
Silverburn, Glasgow
Solihull (Chimichanga)
South Woodford, London (Chimichanga)
Southampton
Southampton (Chimichanga)
St Annes on Sea
St Austell
Stamford
Stevenage (High Street)
Stratford Upon Avon
Sudbury
Taunton
Telford (Chimichanga)
Tewkesbury
Wandsworth, London
Wandsworth, London (Chimichanga)
Warrington
Watford, London (Chimichanga)
West Bromwich
Wokingham
Woodley
Yate
Yeovil