Zizzi and Ask Italian owner to permanently shut 75 restaurants leaving 1,200 jobs at risk
THE owner of the Zizzi and Ask Italian restaurant chains is to close 75 restaurants – with hundreds of jobs at stake – due to the coronavirus pandemic.
Azzurri Group, which also owns the Coco di Mama pasta chain, has been sold out of administration to investment firm TowerBrook Capital Partners.
The deal will see 225 restaurants and shops continue to operate, protecting around 5,000 jobs, but 75 restaurants will shut for good.
Details about which restaurants will close have not been confirmed.
Zizzi branches are located in Gunwharf Quays and The Broadwalk, in Port Solent.
An Ask Italian restaurant can be found in 10 West Street, Fareham.
Azzurri Group chief executive Steve Holmes said: ‘The Covid-19 crisis has had a profound impact on the casual dining sector, bringing many businesses like ours to a standstill.
‘Despite being a successful operator, the immediate loss of revenue during lockdown meant that we have had to make some incredibly difficult decisions to protect the business for the long-term.
‘It is with deep sadness that this process will result in the permanent closure of a number of sites and that we must say goodbye to greatly valued employees across our brands. ‘Looking forwards, TowerBrook is a strong new partner who shares our ambitions for the future.
‘Their additional investment has enabled us to preserve the majority of our restaurants, stores and jobs and I am confident that, under TowerBrook’s ownership, Azzurri will navigate the period ahead successfully.’
TowerBrook plans to invest around £70m to support Azzurri Group and re-open 40 pizza restaurants next week, with further sites opening across the rest of the summer.
It comes as Pizza Express confirmed on Thursday that it will close up to 75 branches, while the owner of Bella Italia, Cafe Rouge, and Las Iguanas will close 91 restaurants across the UK.
Frankie and Benny’s owner The Restaurant Group is closing 125 sites, but its Portsmouth and Fareham branches will reopen for click-and-collect and delivery from August 17, before opening for dine-in customers from August 20.