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.
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Mar- 2018 -23 MarchRestaurants
Prezzo to shut 94 restaurants affecting 500 jobs
Italian restaurant chain Prezzo has signed a deal agreeing to shut 94 of its 300 outlets across the UK. The company approved the company voluntary agreement (CVA) in a shareholder meeting today. The CVA proposal was backed by 88% of the company’s creditors, and will see the outlets close in…
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23 MarchRestaurants
Restaurant industry experiencing ‘significant increase in financial distress’
New research has shown that subdued consumer spending and ‘fierce’ promotional activity in the UK’s restaurant industry has contributed to a significant increase in financial distress across the sector over the past year. Experts also warned that some restaurant owners may struggle to afford the commercial rent payments due on…
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23 MarchRestaurants
Carluccio’s seeks private equity buyer following profit drop
Italian restaurant chain Carluccio’s is looking for a private equity buyer after appointing advisers KPMG to assess its options. The Financial Times reported that KPMG had approached Wagamama owner Duke Street and Pret a Manger owner Bridgepoint over a possible buyout. It has also sought turnaround specialists and private equity…
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20 MarchNews
35 of the UK’s Top 100 restaurant groups are loss making
35 of the UK’s Top 100 restaurant groups are now loss-making, up 75% from just 20 last year, new research shows. Chartered accountants, UHY Hacker Young, found that trading conditions have become increasingly difficult for restaurant chains dealing with oversaturation in the market as well as rising costs. Casualties include…
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