Tag Archives: Prezzo

Creditors approve Prezzo plans to shutter 94 restaurants and axe Chimichanga chain

Prezzo has secured the 75%-plus approval it required from creditors to push ahead with restructuring proposals outlined in its Company Voluntary Arrangement. The troubled chain will now proceed with plans to shut 94 of its 300 restaurants and axe its Tex-Mex brand Chimichanga altogether. It is understood the closures will be completed by the end

Business rates data exposes why chains are begging landlords to slash rents

Restaurant and casual dining chains are joining retailers in their struggles against the “onerous” business rates regime, with some fall-out in the high street highly likely, Colliers International has said.  With the negative impact of the 2017 Rating Revaluation hitting casual dining chains, the property agency said that rising rates had “substantially” added to their