Prezzo set to close 100 restaurants in rescue attempt

Prezzo set to close 100 restaurants in rescue attempt
 

Italian restaurant chain Prezzo is preparing to close around 100 of its 300 stores in an attempt to rescue the business, the BBC understands.
The chain - which is owned by private equity firm TPG Capital - employs around 4,500 people.
Prezzo is also expected to completely close its TexMex chain Chimichanga, which has 33 restaurants in the UK.
The closures would form part of a deal to renegotiate debts owed by the company to its landlords.
Specialist restructuring firm AlixPartners is understood to be drafting a company voluntary arrangement (CVA) - a step short of going into administration... read more

 
28 February 2018 in Business, Views: 239
Source: BBC
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