Pizza Express will permanently shut 73 restaurants and put 1,100 jobs at risk after restructuring plans were approved by creditors

Pizza Express will permanently shut 73 restaurants and put 1,100 jobs at risk after restructuring plans were approved by creditors.

The chain said 89 per cent of its creditors voted for its Company Voluntary Arrangement (CVA) restructuring deal, which will also see jaminan bpkb mobil masih kedit it secure rent reductions.

It needed a minimum of 75 per cent of creditors to vote in favour of the deal to give it the green light.

The closures will affect one in six of its UK sites.

Last month, Pizza Express said the slump in revenue caused by the enforced closure of all restaurants during the pandemic, the cost of reopening, and the UK's uncertain economic future meant its rental costs were no longer sustainable.

Pizza Express (file image) will permanently shut 73 restaurants and put 1,100 jobs at risk after restructuring plans were approved by creditors

The chain said 89 per cent of its creditors voted for its Company Voluntary Arrangement (CVA) restructuring deal, which will also see it secure rent reductions (file image)

Last month, Pizza Express said the slump in revenue caused by the enforced closure of all restaurants during the pandemic, the cost of reopening, gadai bpkb masih kredit and the UK's uncertain economic future meant its rental costs were no longer sustainable