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Prezzo to close 46 restaurants after struggle to stay profitable


By Sophie Witts


Prezzo is to close 46 loss-mak- ing restaurants across the coun- try as part of a “strategic review” of the business. The Italian chain said around


810 staff jobs were at risk due to the move. Employees were told of the plans on 24 April. Prezzo’s chief executive Dean Challenger said the cost of liv- ing crisis and soaring inflation had made it impossible for all the group’s restaurants to stay profitable. Utility bills at the chain have


more than doubled while the price of dough balls has risen 15%, pizza sauce 28% and spa- ghetti 40%, the company said. The closures will leave Prezzo with 97 sites and 2,000 staff. “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


Prezzo’s chief executive Dean Challenger said the closures would ensure the chain’s long-term survival


food and drink experience,” said Challenger. “But the reality is that the


cost of living crisis, the chang- ing face of the high street and soaring inflation has made it impossible to keep all our res- taurants operating profitably. “We believe the tough deci- sions we are making now will


ensure Prezzo can continue serving communities with high-quality, accessible Italian- inspired meals for many more years to come.” Prezzo’s remaining sites are


in locations suited to “chang- ing consumer habits”, such as shopping centres, retail parks, tourist destinations and travel


hubs, the company said. It comes two years after


Prezzo closed 22 restaurants after being bought out of administration by investment firm Cain International. The casual dining chain was founded in 2000.


sophie.witts@thecaterer.com Hospitality businesses join exodus from the CBI


A stream of hospitality busi- nesses have confirmed the with- drawal or suspension of their membership of the Confedera- tion of British Industry (CBI) after the organisation faced multiple allegations of sexual misconduct by senior figures. Center Parcs, Adnams, Uni-


lever and Diageo are among 80 businesses that have left or paused engagement with the CBI over the past week. It comes after The Guardian reported that there have been two allegations of rape at the CBI, as well as numerous claims of sexual assault, drug-taking and coercive behaviour from senior male figures at the firm. A spokesperson for Center


Parcs confirmed the holiday village operator had withdrawn its membership “with immedi- ate effect” due to the “very seri-


www.thecaterer.com Adnams said it had become “unsustainable” to remain a CBI member


ous allegations that have been made against the CBI”. Andy Wood, chief executive


of Adnams, said it had become “unsustainable” for the brewer to remain a member of the busi- ness lobby group. He added: “It is crystal clear the CBI has some engrained cultural and behav- ioural issues to deal with.” Unilever, parent company


of Unilever Food Solutions and Knorr, has also suspended its membership “due to the very serious and ongoing allegations”. Industry trade associations


were also involved in the walk- out. UKHospitality has “paused its engagement with the CBI, pending the conclusion of ongoing investigations”, while


the British Beer & Pub Associa- tion tweeted its decision to “ter- minate our membership with the CBI with immediate effect”. On 21 April, the CBI board


said it was suspending all pol- icy and membership activities until an extraordinary general meeting (EGM) in June. The group said in a statement:


“The CBI shares the shock and revulsion at the events that have taken place in our organisation, and at past failures that allowed these events to happen. We are deeply sorry and express our profound regret to the women who have endured these horrific experiences. It added: “At the EGM we


will put forward proposals for a refocused CBI to our member- ship for them to decide on the future role and purpose of the organisation.”


28 April 2023 | The Caterer | 7


SIMON COLLINS/SHUTTERSTOCK


ALENA VEASEY/SHUTTERSTOCK


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