Prezzo shuts 46 branches including four in London as 810 jobs put at risk Slice of misfortune Prezzo will shut 46 loss making sites across the UK including three in London and place 810 workers at risk of redundancy, as soaring energy and a hike in food costs rattle the business. The Italian restaurant chain, which is owned by private equity firm Cain International said that the closures will impact sites where [...]
Prezzo to shut 22 restaurants after insolvency deal Prezzo to shut 22 restaurants after insolvency deal Italian chain Prezzo will permanently close 22 restaurants after being bought out of pre-pack administration by private equity firm Cain International. As a result of the deal, 22 of the high street stalwart’s 178 restaurants will not reopen. Cain said that 216 of its 2,900 jobs would be lost. The deal came after Prezzo was [...]
Cain International mulling insolvency process for Italian chain Prezzo – report Cain International mulling insolvency process for Italian chain Prezzo The private equity firm which bought Italian chain Prezzo in December is reportedly mulling putting the restaurant group through an insolvency process. Sky News reported that Cain International was considering a number of options, including pre-pack administration, as uncertainty over the future of the casual dining sector goes on. The firm, which also owns Swingers [...]
Italian restaurant chain Prezzo bought by private equity firm Cain International December 2, 2020 Italian restaurant chain Prezzo has been bought by private equity firm Cain International, the companies announced this afternoon. Cain International, which also holds stakes in Competitive Socialising – the owner of Swingers crazy golf – and women’s private members club The Allbright, said Prezzo has outperformed the struggling casual dining sector over the last 12 [...]
Prezzo taps advisers to oversee sale process July 2, 2020 Italian restaurant chain Prezzo has appointed an advisory firm to explore a sale, as it seeks new funding in order to survive the coronavirus crisis. FRP Advisory has been brought on board to oversee the process and lead an auction of the business, Sky News reported. Prezzo is currently preparing to reopen a number of [...]
Chris Smalling and ITV-backed vegan food brand smashes fundraising target March 5, 2024 A vegan food brand backed by the likes of former Manchester United footballer Chris Smalling and ITV has smashed through its crowdfunding target.
West End landlords Shaftesbury and Capco eye £3.5bn merger May 7, 2022 Two major London property firms are in talks about a £3.5bn merger to create an extensive real estate empire in London's West End.
Real estate developer Firethorn sells logistics assets to Cain for £550m March 2, 2022 Real estate developer Firethorn Trust has inked a deal to sell its UK logistics portfolio to investment firm Cain International for £550m. The portfolio includes seven sites in the UK, totalling 3.25m sq ft across 22 assets, including two newly built developments. The sale also includes five consented land sites that are on set for [...]
Mark Kleinman: Vodafone’s CEO call, audit watchdog delays and a wave of insolvencies May 4, 2023 It's the column that gets the Square Mile talking, from the man who talks to everybody - Sky News' Mark Kleinman
Restaurant groups suffer £673m in losses as bosses call for tax relief January 10, 2022 The country’s top restaurant groups saw losses skyrocket in a year, hitting £673m, as bosses have called for more cash to help ailing venues. The top 100 groups saw losses increase 174 per cent in the year to the end of September 2021, according to an analysis of company accounts by accountancy firm UHY Hacker [...]