Pizza Express will close dozens of its restaurants across the UK - but it looks as if Richmond's branch will remain open.

It was announced today (Tuesday, August 4) that the company plans to shut 67 restaurants, meaning 1,100 people may lose their jobs.

The chain is drawing up plans to enter a company voluntary arrangement (CVA) in a bid to push down its outgoings on rent.

The CVA is linked to a debt restructuring agreement with the company's bondholders designed to cut its debt to around £319 million.

Pizza Express closed all of its 449 UK restaurants when a national lockdown was imposed on March 23.

No plans to close reopened restaurants

Its branches in Richmond's Red Lion Street and in Twickenham reopened last week.

And it appears that this means they will both not be among the 67 restaurants facing closure.

A Pizza Express spokesperson said: "We cannot say at this time which branches will be closing, further information regarding these will be announced next week.

advertisement

"However, we have already re-opened 160 restaurants and later this week we will announce a further 80 that will be opening.

"There are no plans to close the stores that will have re-opened."

Group chief finance officer Andy Pellington said: "While we have had to make some very difficult decisions, none of which has been taken lightly, we are confident in the actions being taken to reduce the level of debt, create a more focused business and improve the operational performance, all of which puts us in a much stronger position.

"We can now plan to invest in both our UK&I (Ireland) and international businesses as well as support our teams as they return to work."

UK and Ireland managing director Zoe Bowley said: "Our business has a long history of success, but the UK-wide lockdown has hit the hospitality industry particularly hard.

"While the financial restructuring is a positive step forward, at the same time we have had to make some really tough decisions.

"As a result, it is with a heavy heart that we expect to permanently close a proportion of our restaurants, losing valued team members in the process."

She added: "As we continue to reopen our restaurants for dine-in and delivery, we will successfully navigate the extended period of social distancing expected in the months ahead and, in so doing, protect 9,000 jobs."

advertisement

Find us on social media

Join the conversation on our Facebook page