Pizza Express are closing 73 of their restaurants and two of them are unfortunately in Sefton
Yesterday, Pizza Express announced that it will be closing 73 of their restaurants and cut 1,100 jobs after being hit hard by the coronavirus pandemic and lockdown.
Two of the restaurants that are closing are in Sefton. They have confirmed that they are to sadly close the Formby restaurant and also the Southport Old Bank restaurant.
The company, which currently has around 454 restaurants in the UK, said on Tuesday it has finalised a proposal to reduce its restaurant and rental costs via a company voluntary arrangement (CVA).
Pizza Express Managing Director Zoe Bowley said: “Today we have confirmed that 73 of our pizzerias are to close permanently. Our focus is on our people whose jobs have been impacted and we will be doing everything we can either to redeploy them or to find them roles elsewhere.”
Pizza Express closed all of its restaurants on 23rd March and at the beginning of August, put the business up for sale but have not confirmed if they have received any offers.
It said that although the majority of its restaurants were profitable before lockdown was imposed, earnings had been declining across the Pizza Express estate for the last three years.
It added that the reduction in revenue caused by the enforced closure of all restaurants, the cost of reopening and the UK’s uncertain economic future meant its rental costs were no longer sustainable.
Pizza Express, which is majority owned by Chinese firm Hony Capital, also confirmed it had hired advisers from Lazard to lead a sale process for the business.
Here is the full list of restaurants to close:
Aberdeen - Belmont Street
Barnstaple - Three Tuns
Birmingham - Corporation Street
Birmingham - Mailbox
Bournemouth - Post Office Road
Bristol - Berkeley Square
Bristol - Regent Street
Dudley - Merry Hill
Earls Court - Earls Court Road
Edinburgh - Holyrood
Fulham Palace Road
Glasgow – Princes Square
Ipswich - Lloyds Avenue
Leeds - Crown Street
Leeds - Horsforth
Newport - Isle of Wight
Newport - South Wales
Nottingham - Goosegate
Oxford - Oxford Castle
Reading - St Mary's Butts
Sheffield - Devonshire Street
Sheffield The Moor
Southport - Old Bank