PREZZO IN TURMOIL

Prezzo to close 100 restaurants putting hundreds of jobs at risk

The Italian-themed restaurant chain, which is owned by TPG Capital, is preparing to launch a Company Voluntary Arrangement

PREZZO has announced that it will close 100 restaurants, putting hundreds of jobs at risk.

The Italian-themed restaurant chain, which is owned by TPG Capital, is preparing to launch a Company Voluntary Arrangement, according to Sky News.

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Italian chain Prezzo is closing 100 of its restaurantsCredit: Alamy

Also reportedly in the arrangement in the plan to close the Tex-Mex chain Chimichanga, also owned by the company.

The plan is set to be unveiled in the next few days.

It comes after Toys R Us UK and Maplin were both reported to be going into administration.

Jamie Oliver is also said to be closing 12 of his restaurants, which would see the loss of 450 jobs.

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