Live Support

In-depth Discussions

Prezzo restaurant chain to close 92 outlets

Creditors of the Italian restaurant business Prezzo have backed a restructuring plan that will see it close 92 outlets - about a third of the chain.

It's estimated the move, backed by most creditors, could jeopardise up 1,800 jobs.

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

Prezzo is closing all of the 33 outlets of its TexMex chain Chimichanga.

Under the rescue plan rents will be cut by between 25% and 50% at 57 sites.

...

BBC News

You need to be a member of People's Forum to add comments!

Join People's Forum

Email me when people reply –

Discussion Area

This area is for people to post and view discussions. You can use the the tabs at the top of the page to filter the discussion to the topics you want.

If you would like to start a discussion please click Add Discussion