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.”
Follow STV News on WhatsApp
Scan the QR code on your mobile device for all the latest news from around the country
