PizzaExpress to Permanently Close 73 UK Outlets, Impacting 1,100 Jobs

PizzaExpress to Permanently Close 73 UK Outlets, Impacting 1,100 Jobs
A woman walks past a Pizza Express restaurant in London, Britain, Oct. 16, 2019. Hannah McKay/Reuters
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Privately held restaurant group PizzaExpress said on Tuesday it would close 73 restaurants in the UK, impacting 1,100 jobs, as coronavirus lockdowns and higher costs hurt its business.

The UK-based restaurant chain said it has launched a company voluntary arrangement (CVA) to improve its finances by reducing rental agreements and temporarily moving from quarterly to monthly rents.