Prezzo confirms it will close 94 branches with the loss of 1,000 jobs
The closures will also include 33 Chimichanga Tex-Mex restaurants
ONE THOUSAND workers are set to lose their jobs after restaurant chain Prezzo confirmed it will close 94 branches.
The Italian chain, owned by US private equity group TPG Capital, has entered into a Company Voluntary Arrangement (CVA), which it hopes will help turn the business around.
Of the 94 branches closing, 33 are the Tex-Mex Chimichanga brand - all of these will be closed.
The remaining 208 restaurants will continue operating as usual.
Staff at the affected branches are being told today that they will be losing their jobs.
A spokesman for Prezzo told The Sun Online that the company will do all it can to find staff losing their jobs new roles where possible.
More on money
It has been a bleak week for high street names.
Toys R Us and electrical retailer Maplin have both entered administration, while floor specialist Carpetright issued its third profit warning in four months and warned of difficult trading conditions.
Today the former toy giant announced a nationwide closing down sale at its 100 shops across the country.
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