Prezzo confirms full list of 46 loss-making branches it will shut for good
Prezzo has confirmed which restaurants are set to close leaving 810 staff at risk of redundancy. The Italian restaurant has been forced to shut a huge chunk of its venues, blaming a massive rise food supply and energy costs.
Bosses at the private equity-owned businesses confirmed the cull is part of a broader strategic review at sites where "the post-Covid recovery has proved harder than we had hoped”. As a result of the overhaul 97 restaurants will remain with around 2,000 staff. Staff at risk of redundancy were informed on Monday morning which sparked the start of the consultation process. The hospitality giant says it plans to re-deploy as many staff as possible while also promising to support others in new employment opportunities.
Prezzo says utility bills have more than doubled while they have also experienced double-digit wage inflation. Soaring food inflation, which hit a 45-year high last month, has also hit the business hard.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BBC star Rylan Clark's Italian getaway with Rob Rinder as they film new showFrom big nights out to playing dress up, Rylan Clark and Rob Rinder appear to be having a ball as they travel Italy together for the new BBC show, Rob and Rylan's Grand Tour
Read more »
'Thanks for your patience': Italian restaurant reopensA popular Italian restaurant has reopened following closure.
Read more »
Jeremy Vine blasts 'utterly untrue' rumours of being BBC presenter taken off-air‘There is no truth WHATSOEVER in what you are saying.’ Jeremy Vine has spoken out after accusations he is the BBC presenter who has been taken-off air following the ‘teen sexual photos’ allegations that have been swirling.
Read more »
Road set to close for three-day resurfacingA North Watford road will be shut over three days as “welcome” works take place.
Read more »
LIVE: Long queues building on motorway after crash - latest updatesLIVE: Long queues building on M62 after crash - latest updates
Read more »
Natwest branches closing across Greater ManchesterOne of the closure's left a town without a bank.
Read more »