Pizza Express is preparing to close around 67 of its UK restaurants, putting 1100 jobs at risk.
The chain is planning to launch a company voluntary arrangement (CVA) in an attempt to push down its rents amid a “significantly more challenging environment”.
Pizza Express said while the outcome is “yet to be decided” it may end in the closure of around 15% of its 449 restaurants in the UK.
The company also revealed it has put itself up for sale – with the sale running separately to closure plans.
A statement from Pizza Express added: “This decision is a very difficult one; however, against the current unprecedented backdrop, Pizza Express believes reducing the size of its estate will help it to protect 9,000 jobs.”
