Italian Restaurant Chain Prezzo Shuts Down More Locations
Prezzo, the beloved Italian restaurant chain with 180 locations, has announced the closure of yet another branch. Last year, Prezzo had already closed numerous branches, but it appears that they have been forced to shut down even more.
Goodbye to Prezzo Islington
Prezzo's Islington branch has bid farewell to its loyal customers. The closure was announced with a simple message stating, "Sorry, Prezzo Islington has closed." The branch emphasized its disappointment in having to close its doors.
Still Plenty of Prezzo Options in London
Although the Islington branch is no longer operating, Prezzo assured its customers that they still have six other locations across London where they can enjoy the joy of Italian dining. They expressed hope to see their patrons at one of their other beautiful restaurants soon.
Prezzo did not provide further comment on the closure.
Difficult Times for Prezzo
In April 2023, Prezzo had announced the closure of 46 branches due to the financial impact of the pandemic. The Islington branch was not initially included in the list of closures. However, the exact number of workers affected by these closures remains unknown.
Dean Challenger, CEO of Prezzo, acknowledged the challenging times faced by the high street and expressed pride in how Prezzo has remained an appealing and trusted dining experience. He believes that the tough decisions made now will secure Prezzo's ability to serve communities with high-quality Italian-inspired meals for years to come.
Prezzo's History of Closures
Prezzo fell into administration in late 2020 due to the heavy impact of the pandemic. It was later acquired by private equity owners Cain International. This recent closure plan follows the previous closure of 22 restaurants and the loss of 216 jobs. In the past, Prezzo was also forced to shut down 94 stores and lay off 500 employees.
Other Retailers Facing Closures
Boots and Costa, two major retailers, have also announced store closures this month. Boots plans to shut down 300 shops over the next year, while Costa has closed a dozen sites in the past year. The challenging cost of living has led to fewer people dining out, impacting the food and drink industry as a whole.
Overall, Prezzo's closure of another branch adds to the list of businesses struggling to recover from the pandemic and cope with rising energy bills and inflation.
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