Skip navigation

Gloucestershire Business News

Prezzo look to put new owners on the menu

Prezzo has become the latest restaurant chain to look at a potential sale as it looks to survive the coronavirus pandemic.

The Italian chain, which has two outlets in Cheltenham, is reopening 35 of its 180 restaurants over the next few weeks as lockdown restrictions are eased with the remaining branches following over the summer.

But according to Sky News the company, which is part owned by American buyout giant TPG, is looking to simplify the ownership structure.

It has asked FRP Advisory to explore expressions of interest ahead of a sale as a going concern.

Prezzo, which employs around 3,000 people, is said to have been trading well ahead of the coronavirus closures in March which saw the majority of staff placed on furlough.

Rivals ASK and Zizzi, part of the Azzurri Group, are believed to be close to a sale with private equity firms Epiris and Towerbook the leading contenders.

And Casual Dining Group has seen interest for its Bella Italia, Cafe Rouge and Las Iguanas chains.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Monday, August 10 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Monday, August 10

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

One third expecting to make redundancies in coming months Image

One third expecting to make redundancies in coming months

One in three employers across the UK expect to make job cuts before the end of September according to new research.

Award-winning baker to join Stroud's new Five Valleys Market Image

Award-winning baker to join Stroud's new Five Valleys Market

Stroud's award-winning The Artisan Baker has been announced as the latest trader joining the growing list of local food producers at the Five Valleys indoor market later in the year.

Superdry fashions stronger position with financing deal Image

Superdry fashions stronger position with financing deal

Superdry has strengthened its financial standing by securing a £70million financing deal after reporting sales above expectations.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.