Lincoln’s branch of Chimichanga is set to close next month following a national company restructure.
The announcement follows after parent company ‘Prezzo’ announced it will close 94 of it’s restaurants nationwide in an attempt to save the business.
All 33 branches of Chimichanga will close across the UK, including the one on Lincoln’s Brayford.
The chain will enter a voluntary agreement which will put their debts on hold whilst they look for a buyer.
John Hendry-Pickup, CEO of Prezzo said: “Prezzo’s core business today is fundamentally strong and has fantastic potential. However, the well-documented pressures on our industry mean a number of our restaurants are under performing”.
“While the 208 restaurants that make up that core will continue to trade as normal, the company expects that 94 will be closed as part of the process. Closures are expected to commence from April 2018. Every effort will be made to redeploy those team members affected by the closures.”
Around 500 jobs will be lost nationwide.
Lincoln’s branch of ‘Prezzo’ will remain open.
Jack Surfleet has more in the video below where he talks to local business Royal William IV, also located on the Brayford, about how they’ve managed to stay open in Lincoln.
