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PREZZO CHAIN IS CLOSING RESTAURANTS IN THE UK

Italian chain Prezzo will permanently close 22 restaurants after being bought out by private equity firm Cain International. As a result of the deal, 22 of 178 restaurants of the company, located in the UK, will be closed. The deal with the Cain International came after Prezzo was forced to go into the administration after failing to negotiate lease payments with landlords. The investment firm said that 216 of the company’s 2,900 jobs would be lost. “We are deeply sorry for everyone affected by the final closure of 22 ...

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