Prezzo braces for landlord showdown over restaurant closures
Prezzo, the excessive road restaurant chain, is bracing for a court docket showdown with landlords over the closure of a 3rd of its websites.Sky News has learnt that Prezzo will write to the house owners of its 143-strong property on Tuesday to inform them of the authorized course of via which it intends to close unprofitable shops.
City sources mentioned the chain, which is owned by Cain International, supposed to make use of a proper restructuring plan to drive via the overhaul.Prezzo introduced final week that it was axing 46 retailers with the lack of greater than 800 jobs.It mentioned rising power payments and double-digit value inflation on gadgets together with dough balls and spaghetti had hit the monetary efficiency of lots of its websites.
Landlords, who embody a fe...