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.
-
May- 2019 -3 MayRestaurants
Ping Pong to sell off last shopping centre sites
Dim sum restaurant chain Ping Pong is to sell its two outlets at Westfield London and Wembley Designer Outlet Village, the remaining of its shopping centre located restaurants. Leisure property specialists Davis Coffer Lyons has been instructed to dispose of the leasehold interest in the sites. The Westfield unit is…
Read More » -
Feb- 2019 -12 FebruaryPubs and Bars
Historic 700-year-old pub The Turks Head to reopen
A historic 700-year-old Exeter pub is to be reopened by Clive Watson’s City Pub Group. The Grade II-listed Turks Head is well-known for being frequented by Charles Dickens, however locals were worried its purpose as a pub had gone for good, when in 2005 Prezzo opened a restaurant on the…
Read More » -
Jan- 2019 -2 JanuaryRestaurants
10,000 restaurant jobs lost in 2018 with more expected
The casual dining crunch saw 30 people a day lose their jobs during 2018 through administrations, CVAs and rationalisation a study by the Centre for Retail Research (CRR) has revealed. Gourmet Burger Kitchen, Carluccios, Prezzo, Chimichanga, Byron and Jamie’s Italian were amongst the big name restaurant chains that closed outlets…
Read More » -
Nov- 2018 -13 NovemberBusiness
EU rules could ‘thwart’ Hammond’s business rates promise
Hammond’s plan to help high streets through a near £1bn, two year business rates cut, is set to be thwarted by European Union state aid rules, real estate agents Altus Group have claimed. The chancellor will slash business rates next April by discounting bills by a third for those retail…
Read More » -
Oct- 2018 -29 OctoberBusiness
Profits at top 100 UK restaurant groups plunge 80% to £37m in a year
The total pre-tax profits at the UK’s top 100 restaurants have plummeted by 80% in the last year to £37m, down from £194m 12 months ago according to accounting firm UHY Hacker Young. The drop means that pre-tax profits at the UK’s top 100 restaurant groups have fallen 89% from…
Read More » -
1 OctoberGovernment
Restaurants and bars to be banned from taking employees’ tips
New legislation banning restaurant bosses from deducting or keeping employee tips is set to come into force, Theresa May has announced. Speaking at the Conservative Conference today (1 October), the prime minister named high street chains Prezzo, Strada and Zizzi as some of the worst offending restaurants for taking staff…
Read More » -
Sep- 2018 -3 SeptemberRestaurants
GBK ‘appoints restructuring advisors’ prompting CVA suspicions
Burger chain Gourmet Burger Kitchen (GBK) has reported appointed restructuring advisors Deloitte leading to suspicions that the company could be set to enter a company voluntary arrangement (CVA). According to The Times, Deloitte is seeking rent reductions and site closures for the chain which recently reported a loss of £2.24m…
Read More » -
Aug- 2018 -7 AugustOpinion
Is the demise of restaurant chains a good thing for local independents?
The Gaucho restaurant group is the latest in a list of chain restaurants to appoint administrators or announce restructuring and branch closures. The news, including the closure of their 22 Cau restaurants follows on from the restructuring of Jamie’s Italian, Prezzo, Café Rouge, Byron and Strada. In my home city…
Read More » -
Jul- 2018 -27 JulyRestaurants
More restaurant groups to fail before year-end, analysts predict
At least two or three more restaurant groups are expected to fall before the end of 2018, analysts from real estate agents Christie and Co have predicted. In the first half of 2018, a number of high profile operators have turned to company voluntary arrangements (CVAs) as a means to…
Read More » -
9 JulyBusiness
Trio of bidders including Osmond queuing up for Gaucho
Hugh Osmond’s eponymous Osmond Capital group is said to be one of three companies bidding for struggling steak chain Gaucho. Osmond is thought to have bid less than the £50m owed by Gaucho to its creditors, and according to Sky News, is competing with Core Capital and Limerston Capital for…
Read More »
