Search

94 Prezzo restaurants to close as chain wields the axe

PUBLISHED: 17:12 02 March 2018 | UPDATED: 07:04 03 March 2018

Prezzo, which also owns Tex-Mex chain Chimichanga, is reportedly considering a restructuring plan which could see it close as many as 100 sites. Picture: Bethany Whymark

Prezzo, which also owns Tex-Mex chain Chimichanga, is reportedly considering a restructuring plan which could see it close as many as 100 sites. Picture: Bethany Whymark

Archant

Italian restaurant chain Prezzo has confirmed it is to close 94 of its 302 eateries across the country.

The future of the firm’s restaurants in Norwich, King’s Lynn, Dereham and Beccles is still unknown but it has confirmed all of its TexMex chain Chimichanga diners, including one in Ipswich, will close.

READ: Special Report – Why are Norwich’s restaurants struggling?

The chain, which is owned by private equity firm TPG Capital, employs about 4,500 people across the country.

Prezzo has entered a Company Voluntary Arrangement (CVA) which will allow it to cut some of its debts and enable it to continue trading.

It is the latest in a series of blows to the high street with burger chain Byron and Jamie’s Italian both undergoing similar restructuring arrangements this year while retailers Toys R Us and Maplin have entered administration this week.

Other news

Yesterday, 17:23

A Norfolk parish council has ‘disappointed’ residents with their decision not to request a judicial review into a proposed development of 25 homes on the edge of the village.

Yesterday, 15:45

A common seal pup discovered among the rocks at Brancaster beach in north Norfolk is recovering well.

Yesterday, 15:00

Dereham Carnival Committee is running a car boot sale with a little bit of a difference on Sunday.

Yesterday, 13:23

A man with Parkinson’s disease is hoping to help those with limited mobility thanks to the help of his new invention.

Most Read

Yesterday, 17:23

A Norfolk parish council has ‘disappointed’ residents with their decision not to request a judicial review into a proposed development of 25 homes on the edge of the village.

Read more
Norfolk County Council
Yesterday, 15:45

A common seal pup discovered among the rocks at Brancaster beach in north Norfolk is recovering well.

Read more
Wells
Yesterday, 15:00

Dereham Carnival Committee is running a car boot sale with a little bit of a difference on Sunday.

Read more
Yesterday, 13:23

A man with Parkinson’s disease is hoping to help those with limited mobility thanks to the help of his new invention.

Read more
Facebook
Yesterday, 13:04

It’s Bring Your Dog to Work Day on Friday 22 June. Let us know if you’re taking part!

Read more
Eastern Daily Press

Most Commented

Yesterday, 17:23

A Norfolk parish council has ‘disappointed’ residents with their decision not to request a judicial review into a proposed development of 25 homes on the edge of the village.

Read more
Norfolk County Council
Yesterday, 15:45

A common seal pup discovered among the rocks at Brancaster beach in north Norfolk is recovering well.

Read more
Wells
Yesterday, 15:00

Dereham Carnival Committee is running a car boot sale with a little bit of a difference on Sunday.

Read more
Yesterday, 13:23

A man with Parkinson’s disease is hoping to help those with limited mobility thanks to the help of his new invention.

Read more
Facebook
Yesterday, 13:04

It’s Bring Your Dog to Work Day on Friday 22 June. Let us know if you’re taking part!

Read more
Eastern Daily Press

Local Weather

Sunny

Sunny

max temp: 20°C

min temp: 11°C

Show Job Lists

Digital Edition

Image
Read the Dereham Times e-edition today
E-edition

Newsletter Sign Up

Dereham Times weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy