Pizza Express has said it could close around 67 of its UK restaurants, with up to 1,100 jobs at risk, as part of a major restructuring plan.
The chain said it is planning to launch a company voluntary arrangement (CVA) in the ‘near future’ in a bid to push down its rents amid a ‘significantly more challenging environment’ after the coronavirus pandemic.
The outcome has ‘yet to be decided’, Pizza Express said, but it may end in the closure of around 15% of its 449 restaurants in the UK, affecting 1,100 staff.
The company added: ‘This decision is a very difficult one; however, against the current unprecedented backdrop, Pizza Express believes reducing the size of its estate will help it to protect 9,000 jobs.’
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