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Isle Of Wight's Pizza Express Earmarked For Closure

The Isle of Wight's only Pizza Express restaurant looks set to close.

The premises, in Newport, is on a list of 73 outlets earmarked for closure by the company.

Pizza Express has revealed plans to close almost a fifth of its UK restaurants under a financial restructuring that places 1,100 jobs at risk.

The casual dining chain said it hoped to redeploy some of the staff impacted by the company voluntary arrangement (CVA), which will also aim to reduce rents across much of its remaining store estate.

The rescue deal, which must be agreed by creditors, will see 73 of its 470 restaurants close permanently following the deep disruption to trading caused by the coronavirus lockdown and the resulting jobs crisis.

Pizza Express, which is majority owned by Chinese firm Hony Capital, said it had also placed the business up for sale.

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