Prezzo Holdings Limited is a chain
restaurant
A restaurant is a business that prepares and serves food and drinks to customers. Meals are generally served and eaten on the premises, but many restaurants also offer take-out and food delivery services. Restaurants vary greatly in appearan ...
operator in the United Kingdom.
History
In 2014 the company was bought by private equity investment firm
TPG Capital
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...
for just over £300 million.
[
On 23 March 2018 Prezzo Holdings announced it was closing the 33 branch ]Tex-Mex
Tex-Mex cuisine (from the words ''Texan'' and ''Mexican'') is an American cuisine that derives from the culinary creations of the ''Tejano'' people of Texas. It has spread from border states such as Texas and others in the Southwestern United ...
chain Chimichanga, and closing 92 branches of the Prezzo chain, in a company voluntary arrangement (CVA) restructuring whereby rents at 57 other sites were to be reduced by between 25% and 50%. The contraction jeopardised up to 1,800 out of the 4,500 jobs at the time.
Subsidiaries
It operates using several casual dining
Restaurants fall into several industry classifications, based upon menu style, preparation methods and pricing, as well as the means by which the food is served to the customer. This article mainly describes the situation in the USA, while catego ...
brands:
References
Restaurant groups in the United Kingdom
{{UK-restaurant-stub