Prezzo has confirmed which restaurants are set to close leaving 810 staff at risk of redundancy. The Italian restaurant has been forced to shut a huge chunk of its venues, blaming a massive rise food supply and energy costs.
Bosses at the private equity-owned businesses confirmed the cull is part of a broader strategic review at sites where "the post-Covid recovery has proved harder than we had hoped”. As a result of the overhaul 97 restaurants will remain with around 2,000 staff. Staff at risk of redundancy were informed on Monday morning which sparked the start of the consultation process. The hospitality giant says it plans to re-deploy as many staff as possible while also promising to support others in new employment opportunities.
Prezzo says utility bills have more than doubled while they have also experienced double-digit wage inflation. Soaring food inflation, which hit a 45-year high last month, has also hit the business hard.