finance

Pizza Express to axe 1,300 jobs as coronavirus continues to bite


PIZZA Express has said it is cutting around 1,300 jobs across its UK restaurants as the impact of coronavirus continues to hit business.

The restaurant chain is not closing any more restaurants but instead slimming down its existing team.

⚠️ Read our coronavirus live blog for the latest news & updates

Over a thousands jobs are being axed at Pizza Express

1

Over a thousands jobs are being axed at Pizza ExpressCredit: EPA

The chain said that despite sales improving over the summer, recent Covid restrictions has seen a drop in the number of diners visiting its restaurants.

This includes the 10pm curfew for pubs and restaurants and a ban on households mixing indoors in Tiers 2 and 3 coronavirus lockdown areas.

It added that capacity in branches has already been reduced by 25% to ensure they can operate within government guidelines.

It’s not yet clear if the job losses are on top of the 1,100 that are already at risk after the chain announced in September that it would be closing 73 restaurants.

Earlier this year Pizza Express said its sales were hit by the temporary closure of all its restaurants due to lockdown, as well as the cost of reopening them.

Which Pizza Express restaurants are closing?

IN September, the pizza chain announced it will be closed 73 branches. No new closures have been announced today.

These restaurants will be closing:

  • Aberdeen – Belmont St
  • Aylesbury
  • Barnstaple – Three Tuns
  • Biggleswade
  • Billericay
  • Birmingham – Corporation St
  • Birmingham – Mailbox
  • Bournemouth – Post Office Rd
  • Bramhall
  • Bristol – Berkeley Sq
  • Bristol – Regent St
  • Bromsgrove
  • Bruton Place
  • Charlotte St
  • Chippenham
  • Dalton Park
  • Darlington
  • Dudley – Merry Hill
  • Earls Court – Earls Ct Rd
  • Edinburgh – Holyrood
  • Formby
  • Fulham Palace Road
  • Glasgow – Princes Square
  • Glossop
  • Gosforth
  • Grantham
  • Halifax
  • Hampstead
  • Hatch End
  • Hereford
  • Heswall
  • Ipswich – Lloyds Ave
  • Leeds – Crown St
  • Leeds – Horsforth
  • Ludlow
  • Lymington
  • Melton Mowbray
  • Midhurst
  • Milton Keynes – Hub
  • Moseley
  • New Brighton
  • Newcastle
  • Newport – Isle of Wight
  • Newport – South Wales
  • Northallerton
  • Nottingham – Goosegate
  • O2 Finchley
  • Orpington
  • Oxford – Oxford Castle
  • Poole
  • Port Solent
  • Ramsgate
  • Reading – St Mary’s Butts
  • Scarborough
  • Sheffield – Devonshire St
  • Sheffield The Moor
  • Shirley
  • Southport – Old Bank
  • Stafford
  • Staines
  • Stoke
  • Stourbridge
  • Sudbury
  • Torquay
  • Uxbridge
  • Wakefield
  • Walsall
  • Wapping
  • Wardour St
  • Weston-super-Mare
  • Whiteley Village
  • Whitstable
  • Wrexham

 

Pizza Express said 89% of those it owes money to voted in favour of a Company Voluntary Arrangement (CVA), which will also see rents lowered at its existing restaurants.

A CVA doesn’t mean a company has gone bust – instead, it allows businesses that are struggling to look for cost-cutting ways to keep going.

The restructuring previously reported will also see the company’s debt pile reduced from £735million to £319million, with some of the money it owes being written off.

More to follow…

For the latest news on this story keep checking back at Sun Online.

Thesun.co.uk is your go to destination for the best celebrity news, football news, real-life stories, jaw-dropping pictures and must-see video.

Download our fantastic, new and improved free App for the best ever Sun Online experience. For iPhone click here, for Android click here

Like us on Facebook at www.facebook.com/thesun and follow us from our main Twitter account at @TheSun.





READ SOURCE

Leave a Reply