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Prezzo 'plans to close 100 restaurants' causes uncertainty for jobs in Kent

By Chris Price

Restaurant chain Prezzo is reported to be planning to close 100 restaurants as part of a restructuring, leaving the future uncertain for its staff across Kent.

The company, which is owned by private equity firm TPG Capital, wants to shut around a third of its sites, according to Sky News.

The chain, which employs about 4,500 people, would seek rent reductions on others under a tool known as a company voluntary arrangement.

Prezzo in Tenterden. Picture: Google Street View

The plans are also said to involve the closure of all its Tex-Mex restaurants Chimichanga.

Prezzo has several locations in the county including Broadstairs, Canterbury, Maidstone, Sevenoaks, Tenterden, Tunbridge Wells and Whitstable.

It has Chimichanga restaurants in Canterbury, Chatham and Bromley.

Company voluntary arrangements have been used by burger chain Byron and Jamie's Italian in recent months as the high street battles rising inflation and increases to the minimum wage.

The method was also used by Toys R Us in December, which collapsed into administration this week.

An announcement on the company voluntary arrangement is expected in the coming days.

Prezzo and TPG Capital declined to comment.

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