Pizza Express to close 73 restaurants, putting 1.100 jobs in jeopardy
Wednesday, September 9, 2020
Around 1.100 jobs will be axed and 73 restaurants at Pizza Express will be closed after their reorganisation plans were approved by creditors.
The plans have now been approved by 89% of its creditors, who are owed money, after they voted for a voluntary company agreement.
Pizza Express admitted that its sales were affected by suspensions at all its restaurants.
Pizza Express has so far said 355 restaurants remain open in the UK of which more than 30 are expected to reopend in the next few weeks.
The chain said at the time that climbing prices and rents meant it struggling to meet costs amid the changing casual dining sector.
The Pizza Express said in a statement: "The successful vote unlocks the company's ability to actively address the challenges brought by Covid-19, securing over 9.000 jobs in the UK.
It has also warned of restaurant closings and plans to permanently close 75 branches.