Prezzo
Coverage tracks the trading performance, estate strategy, and brand repositioning of one of the UK’s longest-standing Italian casual dining chains. Reporting includes restaurant closures, CVA processes, delivery and takeaway development, new menu formats, pricing strategy, and brand updates under current ownership. Insight is tailored for operators and suppliers monitoring mid-market high street dining, turnaround plans, and consumer appetite for affordable, family-friendly Italian concepts.
-
Dec- 2020 -3 DecemberBusiness
Cain International snaps up Prezzo
Italian restaurant chain Prezzo has been acquired by the privately held investment firm, Cain International, for an undisclosed fee. A self-proclaimed “long-term investor”, Cain’s existing portfolio in the hospitality industry includes Swingers, Maslow’s Group, and The AllBright. While the sector is currently enduring a difficult period, the investment firm said…
Read More » -
Apr- 2020 -27 AprilCoronavirus
Prezzo enables early access to furlough pay
Prezzo is now offering income streaming to its 3,000 employees to enable early access to furlough pay amid the ongoing pandemic. The income streaming will allow workers early access to accrued pay, and provider Wagestream has also extended its service to cover furlough pay from the government during the crisis. …
Read More » -
Mar- 2020 -20 MarchRestaurants
TGI Friday’s announces temporary closure amid Covid-19 virus outbreak
American-style diner TGI Friday’s has announced it is to temporarily close all its UK restaurants from 9pm tomorrow (21 March) amid the recent outbreak of the Covid-19 virus outbreak. The news follows the government warning the public to practice social distancing to prevent the virus spreading. TGI released a statement…
Read More » -
Oct- 2019 -24 OctoberComment
Pizza Express: how to keep pizza on the menu and on the High Street
Recent news that Pizza Express, is engaging in ‘debt talks’ has sparked fears that it could be the next company to disappear from the high street. Will it be possible to turn the company’s fortunes around? In a sector as fast-moving as the UK restaurant industry, even small changes can…
Read More » -
8 OctoberRestaurants
Fears over Pizza Express restaurants as debt talks emerge
Pizza Express has reportedly hired advisors to help its debt situation, sparking fears that it could be the next chain to collapse. According to Pizza Express’ latest annual report, the 470-store pizza chain restaurant finished last year with a £1.12bn debt after a pre-tax loss of £55m. The pizza chain’s…
Read More » -
1 OctoberAdvice
Understanding restaurant CVAs and closures
As recently reported by Catering Today, the number of restaurant insolvencies has risen by 25% in the past 12 months. This news came within weeks of 23-site restaurant chain Abokado announcing it was entering into a Company Voluntary Arrangement (CVA) and follows a general trend of high-profile closures throughout the…
Read More » -
Aug- 2019 -21 AugustAdvice
Five ways restaurateurs can use digital marketing to survive the high street turbulence
Looking at the high street restaurant scene at the moment, it is easy to feel pessimistic. Jamie’s Italian became the latest popular British restaurant chain forced to shut its doors for good when it announced the closure of 23 of its 25 restaurants. Since 2018, Carluccio’s has closed nearly a…
Read More » -
13 AugustAnalysis
Spotlight: Restaurant chains defying the high street downturn
Pizza Express Pizza Express has been a mainstay on the UK highstreet since it was founded in 1965. In spite of a fairly saturated Italian dining scene the brand has maintained its presence where a majority of its competitors have struggled, including Jamie’s Italian, Prezzo and Carluccio’s. One of the…
Read More » -
Jul- 2019 -29 JulyAdvice
How to keep ahead of the competition with flexible funding
Our most recent data tells us that there has been a 100% increase in the use of merchant cash advances by independent restaurants so far in 2019. This is purely due to restaurants and pubs striving to keep ahead of the competition and grow their businesses while many chain restaurants…
Read More » -
Jun- 2019 -10 JuneBusiness
15 of the top 20 UK restaurant companies ‘cannot cover debts’
According to research by accountancy group UHY Hacker Young, 15 of the top 20 UK restaurant companies do not have enough cash to cover their debts falling due in the next year. An analysis of the short term liabilities and assets of the UK’s top 20 restaurant companies reveals that,…
Read More »
