Prezzo announces closure of 22 restaurants
- Credit: Archant
Prezzo has announced it will close 22 of its restaurants instead of reopening when lockdown eases.
The Italian chain confirmed today that the sites were earmarked for permanent closure after the business was bought out of administration.
Prezzo has a handful of restaurants across Norfolk and Waveney including Norwich's Tombland, east Dereham, King's Lynn and Beccles.
New owners Cain International said the action protects the vast majority of Prezzo’s 2,900 team members’ jobs.
Jonathan Goldstein, chief executive of Cain, said: “We firmly believe that strong hospitality businesses, such as Prezzo, have a bright future and will play an essential role in reviving the UK economy.
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“However, to do so, we must get through this current crisis of mounting liabilities and no revenues.
“The lack of visibility on when and how the sector will reopen has heightened economic uncertainty to the point where decisive action had to be taken to secure the future of the business and the majority of jobs for Prezzo’s people.
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“We are deeply sorry for all those affected by the permanent closure of the 22 non-viable restaurants.
“It was a difficult, but essential, decision to take but doing so will allow us to save thousands of jobs and create more in the future.”