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PizzaExpress to close down 73 UK outlets as rental costs turn unviable

PizzaExpress has decided to close 73 of its 449 UK restaurants due to coronavirus lockdowns and higher costs, a move that one of the country’s best known restaurant chains said would impact 1,100 jobs.

The company said rental costs have become unsustainable and launched a company voluntary arrangement (CVA) to improve its finances by cutting rental agreements and temporarily moving from quarterly to monthly rents.

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