PIZZA lovers have taken one other hit because it was confirmed that about 75 Ask Italian and Zizzi branches will stay closed, with the lack of 1,200 jobs.
It is an enormous blow to the already battered meals trade, following the axing of 1000’s of restaurant jobs due to the coronavirus lockdown.
The Covid-19 disaster had had a profound affect on the informal eating sectorCredit score: Alamy
The proprietor of Ask Italian and Zizzi pizza chains stated it is not going to reopen about 75 of its eating places following the pandemic.
The Azzurri Group is being taken over by US funding agency TowerBrook Capital Companions, which plans to maintain open 225 eating places and retailers, defending 5,000 jobs.
However roughly 75 websites fall exterior the scope of the deal and can subsequently shut.
It’s unclear which branches will be affected.
The proprietor of Ask Italian and Zizzi pizza chains is not going to reopen round 75 of its eating placesCredit score: Alamy
Steve Holmes, the group’s CEO, stated the Covid-19 disaster has had “a profound affect on the informal eating sector, bringing many companies like ours to a standstill”.
He added: “Regardless of being a profitable operator, the speedy lack of income throughout lockdown meant that now we have needed to make some extremely troublesome choices to guard the enterprise for the long run.
“It’s with deep disappointment that this course of will end result within the everlasting closure of quite a lot of websites and that we should say goodbye to drastically valued workers throughout our manufacturers.”
Zizzi closed its eating places when the nation went into lockdown
TowerBrook will make investments round £70million to assist Azzurri Group.
It plans to reopen 40 pizza eating places subsequent week, adopted by its Coco di Mama chain and extra Ask and Zizzi websites later in the summertime.
Pod will change to supply solely.
The eating sector has been knocked laborious by the lockdown and pandemic, with a raft of eating places having introduced closures and jobs losses in latest weeks after seeing gross sales decimated.
Zizzi donated meals to the ‘wonderful NHS’ and the Felix Undertaking UK
Frankie and Benny’s proprietor The Restaurant Group put as much as 3,000 jobs on the road after saying it was going to shut 125 websites.
Additionally, Bella Italia and Cafe Rouge proprietor Informal Eating Group stated it might shut 91 eating places after calling in directors.
Pizza Specific is reportedly planning to axe round 75 websites throughout the UK as a part of a rescue deal that might put a whole bunch of jobs in danger.
The group is engaged on a restructuring to climate the coronavirus disaster, which is ready to see it maintain talks with landlords to shed hard-hit eateries and slash rents, in accordance with Sky Information.
Ask Italian followers have been ready to return to their ‘favorite restaurant after this pandemic is over’
It’s understood the ultimate variety of its 490 UK and Eire eating places underneath risk of closure will depend upon these talks as a part of the so-called firm voluntary association (CVA).
Pizza Specific additionally has websites abroad and is assumed to make use of round 8,000 individuals within the UK.
The group is in negotiations that will see Chinese language non-public fairness proprietor Hony Capital hand management of the UK arm to bondholders, in accordance with experiences late on Wednesday.
Pizza Specific declined to remark.
The Pizza Specific chain – which was based in 1965 – was purchased by Hony Capital for £900 million in 2014.
It was beforehand owned by the Gondola Group, which additionally owned Zizzi and Ask Italian, earlier than offloading these chains in the identical 12 months.
It’s unclear at this stage which eating places can be affected, and the place the roles can be misplaced