Restaurant closures confirmed by Italian food giant

JOBS are set to be lost as Prezzo gears up to shut two of its local restaurants in April and May.

Monday, 26th March 2018, 7:00 am

The Italian restaurant firm – which owns other ventures – will close its two Chimichanga outlets at Port Solent and Whiteley, as staff at the sites join 500 employees across the brand set to be axed or placed at different restaurants.

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It comes as Prezzo prepares to close almost a third of its 300 UK outlets, as part of a company voluntary arrangement (CVA) agreed on Friday, which will allow it to exit unprofitable branches and secure rent reductions.

The brand employes 4,500 people and the CVA proposal was backed by 88 per cent of creditors, including landlords.