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- 2018 -3 MayBusiness
Pizza Express turnover up by 6.3%
Pizza Express has announced a turnover of £534.2m for the year, a 6.3% increase on last year’s results. Like-for-like sales for the group, which exclude new store openings and store closures, also increased, by of 1.4%. The pizza chain opened 27 new restaurants of their own overseas last year, with…
Read More » -
Apr- 2018 -24 AprilPeople
Prezzo CEO steps down after closing a third of outlets
Jon Hendry-Pickup has stepped down from his role as the CEO of Prezzo, following the chain’s CVA agreement. Hendry-Pickup joined the group in 2016 and Karen Jones will take over his position, following her appointment as executive chairwoman. Jones was the former chief executive of pub company Spirit Group. In…
Read More » -
19 AprilAdvice
How to retain personality as your brand grows
Despite the volatility in the F&B market, casual dining brands are still on the rise. The UK diner has become well accustomed to chain concepts, as operators have effectively ‘cut and pasted’ proven formulas all over the UK. The consumer knows just what to expect on every visit. But how…
Read More » -
16 AprilBusiness
High street collapse down to higher business rates, says Colliers
Fifteen major retailers or restaurant groups have gone into CVA or administration in the twelve months since the April 2017 Business Rates Revaluation, according to Colliers International, the global commercial real estate agency and consultancy. Ten of those have happened since the beginning of this year – in the last…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More »
