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Isle Of Wight's Prezzo Restaurant To Close

The Isle of Wight's Prezzo restaurant is to close its doors permanently.

The outlet on the High Street, has been named in a list of closures announced by the struggling national chain.

The Italian restaurant opened in April 2016 after an extensive conversion and renovation of the former Post Office building.

The company’s 178 restaurants have been closed to diners during lockdown.

Almost 10,000 licensed premises - including pubs, clubs and restaurants - closed permanently across the country last year as the coronavirus crisis hammered the hospitality sector, according to figures from business advisory firm AlixPartners.

The closure is another blow to Newport, following other recent closures, including Topshop and Pizza Express.

Chief Executive of Cain International, Jonathan Goldstein, said:

“We firmly believe that strong hospitality businesses, such as Prezzo, have a bright future and will play an essential role in reviving the UK economy.

“However, to do so, we must get through this current crisis of mounting liabilities and no revenues.

“The lack of visibility on when and how the sector will reopen has heightened economic uncertainty to the point where decisive action had to be taken to secure the future of the business and the majority of jobs for Prezzo’s people.

“We are deeply sorry for all those affected by the permanent closure of the 22 non-viable restaurants.

“It was a difficult, but essential, decision to take but doing so will allow us to save thousands of jobs and create more in the future.”

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