Prezzo has said that it will close its Brentwood restaurant, after the cost-of-living crisis and soaring inflation hit the chain’s finances.
The site in High Street is set to shut, as well four other restaurants across Essex.
Restaurants in Billericay, Buckhurst Hill, Colchester and Wickford will also be closing their doors to customers.
In total, 46 loss-making restaurants will stop service as part of the overhaul.
The Italian restaurant chain said that about 810 workers were at risk of redundancy following the announcement of the changes this morning (April 24).
Prezzo said that its utility bills had more than doubled in the last year, while the price of spaghetti had risen by 40 per cent and the price of pizza sauce by 28pc.
The chain claimed that while it acknowledged the closures were “tough decisions” to make, they would help ensure it continued to serve customers “for many more years to come”.
Dean Challenger, chief executive of Prezzo, said: “The last three years have been some of the hardest times I have ever seen for the high street and I’m extremely proud of the way our colleagues have retained Prezzo’s position as an appealing, trusted, great value food and drink experience.
“But the reality is that the cost-of-living crisis, the changing face of the high street and soaring inflation has made it impossible to keep all our restaurants operating profitably.
“We believe the tough decisions we are making today will ensure Prezzo can continue serving communities with high-quality, accessible Italian-inspired meals for many more years to come.”
Private real estate investment firm, Cain International, acquired Prezzo in December 2020 after the restaurant chain fell into administration due to the Covid pandemic.
The new closures come two years after the group shut 22 restaurants, including its Wembley site, and cut 216 jobs.
The latest shake-up will leave the hospitality chain with 97 restaurants and about 2,000 staff.
The full list of restaurants set to shut in Essex and London is as follows:
- Billericay, Essex
- Brentwood, Essex
- Buckhurst Hill, Essex
- Chingford, Waltham Forest
- Colchester, Essex
- Eltham, Greenwich
- Mill Hill, Barnet
- Sidcup, Bexley
- Wickford, Essex
- Woodford Green, Redbridge