Pizza Express may close 67 outlets and cut 1,100 jobs
Pizza Express is considering closing 15% of its UK restaurants, which would mean the loss of 1,100 jobs.
Zoe Bowley, UK and Ireland managing director for Pizza Express, said that while the financial restructuring would be a"positive step forward", the closures would be"incredibly sad for our Pizza Express family and we will do everything we can to support our teams at this time".'Encouraging' demandRestaurants were allowed to reopen in July.
The company said the restructuring would put the business on a stronger financial footing in the new socially distanced environment. It is expected to announce a Company Voluntary Arrangement in the near future, which is an insolvency procedure that allows a company with debt problems to reach agreement with creditors regarding payment of all, or part of its debts.Pizza Express founder, the late Peter Boizot, brought a pizza oven from Napoli and a chef from Sicily to open his first restaurant in London's Soho.
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