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Prezzo to close its Newbury branch

Cheap Street restaurant to shut within eight weeks

Andy Murrill

Andy Murrill

andy.murrill@newburynews.co.uk

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01635 886625

Prezzo to close its Newbury branch

RESTAURANT chain Prezzo has announced it is shutting its Newbury branch within the next eight weeks.

The Cheap Street restaurant is one of 94 the company will be closing because it says they are not profitable.

Prezzo chief executive Jon Hendry-Pickup said: “Prezzo’s core business today is fundamentally strong and has fantastic potential.

"However, the well-documented pressures on our industry mean a number of our restaurants are underperforming. While we continue to be profitable and cash-generative, our position is not sustainable, so we must take decisive action now to ensure we’re able to thrive in the future.”

Prezzo has said it will try to redeploy staff where possible.

Mr Hendry-Pickup said: “We recognise this process will impact many of our team members and their families. We are committed to keeping them informed, and will be doing all we can to support them during this difficult time.” 

Fellow Cheap Street restaurants Nawab and Lucky's have also closed recently. Italian chain Strada also shut its Market Place restaurant late last year.

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Article comments

  • Bombey

    06/03/2018 - 15:03

    DVB - The Kennet Centre kicked out, er two restaurants and a bathroom showroom to make way for three restaurants...to go with the 3 other units they can't let.

    Reply

  • Katieh77

    05/03/2018 - 14:02

    I feel for the staff and hope they will be reallocated to another branch but it has really gone downhill recently so I'm not surprised they're closing! I went there a couple of months back and the service was horrendous and with a complete lack of management and I said I'd never go back! I know we weren't the only ones that had issues that night too so it doesn't surprise me. Newbury will be no worse off for one less "Italian" restaurant though!

    Reply

  • danny2300

    05/03/2018 - 13:01

    I sure hope the council decide to open a coffee shop or cafe in the building after they have gone. Newbury is in desperate need for such an establishment. Maybe they could also consider turning it into flats, or simply sell the building to a developer for £1

    Reply

    • Bombey

      05/03/2018 - 13:01

      If the council do open a coffee shop it will be a first.

      Reply

  • danny2300

    05/03/2018 - 13:01

    I sure hope the council decide to open a coffee shop or cafe in the building after they have gone. Newbury is in desperate need for such an establishment. Maybe they could also consider turning it into flats, or simply sell the building to a developer for £1

    Reply

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