Pizza Express ‘draws up plans to close around 75 of its 470 UK restaurants and axe hundreds of jobs’ in yet another blow to the struggling High Street

Pizza Express is planning on closing around 75 of its 470 UK restaurants, reports suggest.   The branches are facing closure as part of a financial restructuring of the business, which is one of Britain’s biggest restaurant operators.  The exact number of branches being closed is yet to be confirmed and could depend on the progress of talks with landlords, set to start next week.  One source told Sky News that the number could be higher or lower than 75, but is unlikely to be more than 20 per cent of the restaurant’s UK outlets.  That means as many 94 sites could be closed, impacting hundreds of jobs, with Pizza Express employing 8,000 workers in the UK.  It comes amid a raft of job cuts and store closures as the coronavirus pandemic and lockdown batters the High Street.  A significant number of Pizza Express restaurants could be forced to close amid the coronavirus pandemic Peter Boizot, founder of Pizza Express. The branches are facing closure as part of a financial restructuring of the business, potentially affecting hundreds of jobs The closures would be made as part of an insolvency process called a company voluntary arrangement. A CVA would be used by… Read full this story

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