Prezzo in Newbury will close
Cheap Street restaurant, Prezzo, will close in the next eight weeks.
It has been confirmed that the struggling chain will shut up shop at 94 of its restaurants as part of a cost-cutting exercise - including Newbury.
The chain's boss, Jon Hendry-Pickup, said this to City AM.
“Prezzo’s core business today is fundamentally strong and has fantastic potential. However, the well-documented pressures on our industry mean a number of our restaurants are underperforming. While we continue to be profitable and cash-generative, our position is not sustainable, so we must take decisive action now to ensure we’re able to thrive in the future.”
“We recognise this process will impact many of our team members and their families. We are committed to keeping them informed, and will be doing all we can to support them during this difficult time.”
Prezzo's Newbury branch has been on the market since last year and will join a growing list of empty restaurant units in the Town. Strada and Lucky's both also closed in December.