Pizza Express to shut 67 restaurants and cut 1.100 jobs
Thursday, August 6, 2020
Jobs in are under threat as Pizza Express has said it will close some 67 of its restaurants in Britain as part of a sweeping structural plan to strengthen its finances.
Pizza Express warned it would close some 67 eatery business permanently and put as many as 1,100 jobs at risk. Pizza Express currently runs 449 restaurants in Britain.
The restaurant chain has said it plans to sign a restructuring agreement with CVA in the near future, which could result in a 15 per cent closure of its 449 restaurants across Britain.
The final results "are very much still to be determined," it said. A CVA isn't meaning the company is bankrupt.
Pizza Express said it too has hired consultants from Lazard to guide a sale process for the store. It sealed all its UK restaurants on March 23 following its national closure.