Relief for staff in Northampton as town's Pizza Express survives cull of 73 restaurants

Northampton's Pizza Express restaurant has been spared after creditors have approved a rescue deal.

Bosses at the Chinese-owned brand said 89 per cent of its creditors voted for plans announced last month to permanently shut 73 restaurants, putting 1,100 jobs at risk.

Among the sites closing is the company's first site in Wardour Street, London, which opened in 1965.

Today's news will be a huge relief to staff at the Pizza Express restaurant in Derngate — housed in a historic Grade Two listed building — after months of uncertainty.

The Company Voluntary Arrangement (CVA) restructuring deal, which will also see it secure rent reductions, required a minimum of 75 per cent in favour to give it the green light.

Last month, Pizza Express said a slump in revenue during the Covid-19 lockdown, the cost of reopening, and the UK's uncertain economic future meant rental costs were no longer sustainable.

In a statement, Pizza Express said: "The successful vote unlocks the company's ability to actively address the challenges brought by Covid-19, securing over 9,000 jobs in the UK.

"The directors of Pizza Express thank its creditors for their support during this period and look forward to ongoing partnership as the hospitality industry recovers to growth."

You check the full list of Pizza Express outlets closing HERE.

The local hospitality industry has taken a hammering with no money coming in while people were forced to stay at home in a bid to slow the spread of coronavirus.

Frankie & Benny's staff were also spared in July when they learned two Italian-American diners at Sixfields and Riverside in Northampton were not on a list of 100 earmarked for closure under a similar CVA deal.

And the same month, workers at Bella Italia were told they could return to work following 3½ months on furlough after the Northampton restaurant was not on a list of closures.

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