Prezzo to close 46 restaurants which are making a loss - is your local branch set for the chop?
24 April 2023, 14:58 | Updated: 24 April 2023, 15:36
High-street Italian restaurant chain Prezzo has announced that is to close 46 branches of the popular eatery in an effort which could cut 810 jobs.
The restructuring of the business comes as the chain is struck by a double-whammy of rising energy costs and food price inflation - which is currently at a 41-year high.
The dining brand said closures are also reflecting changes in customer habits - reflecting a move towards restaurant quality takeaways which have been facilitated by the likes of Uber Eats and Deliveroo.
As the energy crisis bites, Prezzo told reporters that its running costs for gas and electricity have doubled in just 12 months.
It also referenced the fact that Italian cuisine staples such as spaghetti (40% rise), pizza sauce (28% rise) and its signature dough balls (15% rise) have all seen significant hikes in their wholesale cost - eating into the chain's profit margins.
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Customer footfall has also not returned to pre-Covid levels in the high street - which has shattered expectations of a full recovery for the hospitality sector.
The chain admitted that its "post-Covid recovery has proved harder than we had hoped” as part of the announcement.
Is your local Prezzo shutting for good? Take a look at the list below.
- Beccles
- Billericay
- Bolton
- Borehamwood
- Boston
- Bracknell
- Brentwood
- Buckhurst Hill
- Buckingham
- Chichester
- Chingford
- Colchester
- Corby
- Didcot
- Eastbourne
- Egham
- Eltham
- Ely
- Epsom
- Fleet
- Glasgow, St Vincent Place
- Hailsham
- Harpenden
- Livingston
- Lyndhurst
- Maidstone
- Mere Green
- Mill Hill
- Oxford
- Plymouth
- Redditch
- Redhill
- Rugby
- Shepperton
- Shirley
- Sidcup
- St Neots
- Stowmarket
- Tenterden
- Tunbridge Wells
- Weybridge
- Whitstable
- Wickford
- Wimborne
- Winchester
- Woodford Green
