Prezzo to close Glasgow, St Vincent Place restaurant as Italian chain puts 810 jobs at risk

Prezzo has announced it will be shutting its Glasgow, St Vincent Place restaurant as the company takes action over ‘loss-making’ sites. The Italian restaurant chain confirmed today (April 24) it will be closing 46 restaurants across the UK, putting 810 jobs at risk of redundancy.

Prezzo staff were told about the closures on Monday morning, with a consultation process officially launched. The hospitality business will have 97 restaurants and about 2,000 staff following the closures.

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.”

Prezzo fell into administration in late 2020 when the company recorded major losses due to the pandemic. However, it was subsequently snapped up by the current private equity owners Cain International.