Prezzo restaurant chain to close 94 outlets

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Found 23rd Mar
Creditors of Italian restaurant business Prezzo have backed a restructuring plan that will see it close 94 outlets - about a third of the chain.

It is estimated the move could lead to 500 job losses. The chain, which is owned by private equity firm TPG Capital, employs about 4,500 people.

full storybbc.co.uk/new…133
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Pizza is great.
Pasta is great.
Private Equity is great.
BBC also reports that Prezzo is closing all 33 outlets of its TexMex chain Chimichanga
Edited by: "Toptrumpet" 23rd Mar
Toptrumpet5 m ago

BBC sory also reports that Prezzo is closing all 33 outlets of its TexMex …BBC sory also reports that Prezzo is closing all 33 outlets of its TexMex chain Chimichanga


I guess different restaurants will take the leases and open new restaurants.
I guess the over priced medium quality market is dying a slow death. Either that or the British public have taken to exercise and eating only healthy organic foods? Aye right
Never heard of em
hooray.henry1 h, 28 m ago

I guess the over priced medium quality market is dying a slow death. …I guess the over priced medium quality market is dying a slow death. Either that or the British public have taken to exercise and eating only healthy organic foods? Aye right



I think its more likely to be retail and lesure parks, shopping centres where the same restaurants all open and there isnt enough customers (and never was enough) for all of them to work out. Cant afford to be in it but cant afford not to be in it either.

Glasgow SIlverburn as an example Prezzo is a distance down the mall from the new cinema extension built (wouldnt surprise if this is one of the 94 going), but even the ones in the new bit I dont know how most stay open. Worst is Pizza Express and Five Guys which often have half a dozen customers, Handmade Burger Co isnt much better (built a new upstairs extension and ive never seen it used once) Chimichanga is only really busy on Friday / Saturday night. Zizzi is in a row of Italian / Pizza restaurants where Carluccios has already closed down but another restaurant of the same sort opened in its place. Assuming they are all killing themselves with vouchers - dead if they dont join in with vouchers and meal deals but slash margins when they do meaning they need to sell so much more but cant as there isnt enough people.

7 miles away is East Kilbride which has refurbished an ice rink, odeon cinema + opened a load of new restaurants of the same types only Nandos seems to ever have a decent amount of customers in it - even a Costa Coffee is dead whenever I walk past, but two of the restaurants have already hit the fan in less than a year

These two as an example are cutting prices and cutting each others throat in the process
hooray.henry1 h, 34 m ago

I guess the over priced medium quality market is dying a slow death. …I guess the over priced medium quality market is dying a slow death. Either that or the British public have taken to exercise and eating only healthy organic foods? Aye right


We're too poor to eat out
jase.29 m ago

I think its more likely to be retail and lesure parks, shopping centres …I think its more likely to be retail and lesure parks, shopping centres where the same restaurants all open and there isnt enough customers (and never was enough) for all of them to work out. Cant afford to be in it but cant afford not to be in it either. Glasgow SIlverburn as an example Prezzo is a distance down the mall from the new cinema extension built (wouldnt surprise if this is one of the 94 going), but even the ones in the new bit I dont know how most stay open. Worst is Pizza Express and Five Guys which often have half a dozen customers, Handmade Burger Co isnt much better (built a new upstairs extension and ive never seen it used once) Chimichanga is only really busy on Friday / Saturday night. Zizzi is in a row of Italian / Pizza restaurants where Carluccios has already closed down but another restaurant of the same sort opened in its place. Assuming they are all killing themselves with vouchers - dead if they dont join in with vouchers and meal deals but slash margins when they do meaning they need to sell so much more but cant as there isnt enough people. 7 miles away is East Kilbride which has refurbished an ice rink, odeon cinema + opened a load of new restaurants of the same types only Nandos seems to ever have a decent amount of customers in it - even a Costa Coffee is dead whenever I walk past, but two of the restaurants have already hit the fan in less than a year These two as an example are cutting prices and cutting each others throat in the process


I don't understand Starbucks and costa etc, they seem to be operating in the same manner and seemingly in competition with themselves in many areas, doesn't seem to have had any affect on them
Segata-Sanshiro11 h, 23 m ago

I don't understand Starbucks and costa etc, they seem to be operating in …I don't understand Starbucks and costa etc, they seem to be operating in the same manner and seemingly in competition with themselves in many areas, doesn't seem to have had any affect on them


Possibly cause a cup of coffee is £3 and a meal at prezzo is £20... disposable income innit...
In truth, Brits don't like to be (domestic) servants on ever higher rent premises cooking, serving, cleaning, and mopping toilets, in low pay, poor conditions, for the other Brits who don't want to pay high prices for cheap, low-cooking skill pre-packed food.
It’s just too expensive, last time I went it was roughly £5 for a slice of cheesecake. Ok for a special occasion treat, but there are better outlets for roughly the same price.
splender5 h, 39 m ago

In truth, Brits don't like to be (domestic) servants on ever higher rent …In truth, Brits don't like to be (domestic) servants on ever higher rent premises cooking, serving, cleaning, and mopping toilets, in low pay, poor conditions, for the other Brits who don't want to pay high prices for cheap, low-cooking skill pre-packed food.


In another words, generally been lazy.

channel4.com/pro…ted
veedubjai3 h, 20 m ago

In another words, generally been …In another words, generally been lazy.http://www.channel4.com/programmes/british-workers-wanted



I wouldn't call people who work in catering 40 to 100 hours plus a week as lazy.

But I appreciate you may know better than this channel 4 programme.
Edited by: "splender" 24th Mar
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