Zizzi and Ask Italian owner secures rescue deal which includes 75 store closures

18 July 2020

Zizzi and Ask Italian owner secures rescue deal which includes 75 store closures

Azzurri Group, the owner of Zizzi and Ask Italian, has been sold out of administration to US investment firm, TowerBrook Capital Partners.

The deal will keep 225 restaurants open and maintain around 5,000 jobs, but 75 will not reopen.

Coronavirus is said to be the blame.

CEO of the group remarks: ‘’ The Covid-19 crisis has had a profound impact on the casual dining sector, bringing many businesses like ours to a standstill. Despite being a successful operator, the immediate loss of revenue during lockdown meant that we have had to make some incredibly difficult decisions to protect the business for the long-term.''

"It is with deep sadness that this process will result in the permanent closure of a number of sites and that we must say goodbye to greatly valued employees across our brands."

The casual dining sector has seen a hit, since lockdown forced the sites to shut, some for more than three months. Some customers are still reluctant to go out and eat in restaurants, especially with the new procedures and practises put in place – of course this not helping the restaurants and getting customers through the door and meals on the table to keep them going.

Categories: Hospitality, Administration

You are currently offline. Some pages or content may fail to load.