ITALIAN restaurant chain Prezzo has announced it will be closing 94 restaurants with 1,000 jobs at risk.

As part of a company voluntary arrangement (CVA) designed to help the company renegotiate its debt, four restaurants in Yorkshire will close.

While York’s branches at Vangarde shopping centre and Clifford Street remain safe for now, sites will close in Ripon and Catterick, along with two in Sheffield.

The CVA is being put together by restructuring specialists Alix Partners, with bosses at Prezzo claiming they will try and find new roles elsewhere in the business for the 1,000 staff affected.

Prezzo is owned by TPG which bought the business in 2014 for £300 million.

The company announced on Thursday last week it was considering store closures, as did fashion retailer New Look, however the clothing giant is yet to reveal details of its proposed CVA. On the same day Carpetright issued a profit warning.