Beer maker Heineken is slashing 8,000 jobs worldwide after a coronavirus-caused slump in sales. The Dutch giant has been hit hard by the forced closure of pubs and clubs during the pandemic.
It came as restaurant chain Prezzo was placed into administration after failing to reach agreement with landlords on rent payments.
Private equity owner Cain International immediately bought back the bulk of the business through what is called a pre-pack arrangement.
It saved 2,900 jobs but 22 restaurants will close with 216 redundancies. Jonathan Goldstein, chief executive of Cain International, said: “We firmly believe that strong hospitality businesses, such as Prezzo, have a bright future and will play an essential role in reviving the UK economy. “
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