Zizzi and ASK up for sale as restaurants feel pinch
By Rob Freeman | 5th June 2020
The owners of Zizzi and ASK Italian have become the latest restaurant business to feel the financial effects of the coronavirus epidemic.
Azzurri Group, which owns the chains, are believed to be on the lookout for prospective buyers as its owners - the private equity firm Bridgepoint - explore options for the restaurants.
The company employs around 6,000 people and Zizzi has outlets at Gloucester Quays and in Cheltenham, while Ask has a restaurant in Montpellier in Cheltenham.
Bridgepoint paid £250million for the ASK and Ziizzi chains in 2015.
It is the latest is a string of closures and potential sales affecting some of the UK's best-know restaurant names - several of which have outlets at Gloucester Quays.
In addition to Zizzi, Pizza Express is one of several chains looking at their financial options - along with Prezzo, which has two branches in Cheltenham.
The Quays' branch of Carluccio's is not among the 30 restaurants bought by the owner of the Giraffe chain after it entered administration.
The chain's owners The Restaurant Group this week announced it was closing uo to 120 of its Frankie & Benny's and Garfunkel's restaurants although Wagamama's, which it also owns and also features at Gloucester Quays, is not affected.
And Casual Dining Group is in talks about restructuring and possible sales of Bella Italia, which has outlets at the Quays and in Cheltenham, and Cafe Rouge - just a few doors down on the Promenade.
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