Prezzo CEO steps down after closing a third of outlets

Jon Hendry-Pickup has stepped down from his role as the CEO of Prezzo, following the chain’s CVA agreement.

Hendry-Pickup joined the group in 2016 and Karen Jones will take over his position, following her appointment as executive chairwoman. Jones was the former chief executive of pub company Spirit Group.

In March, the dining chain announced its restructuring plan which will see the dining brand close 94 of its 300 outlets. The closures are expected to be completed in May, with all 33 of the group’s Chimichanga restaurants going.

Hendry-Pickup said: “I want to thank the entire team at Prezzo for their hard work and support throughout my tenure. Prezzo is in extremely capable hands with Karen and I look forward to watching Prezzo flourish, as I know it will.”

Jones added: “I am very much looking forward to building on Prezzo’s proud 18-year heritage to create a group of welcoming Italian restaurants that customers love for their unwavering hospitality and their consistent combination of price, quality and service.

“Under the stewardship of Jon and the rest of the leadership team, important steps have already been taken to move Prezzo forward.”

She continued: “There is now a reshaped estate of excellent sites filled with skillful people ready to create something compelling together. I look forward to working with Jon over the next two months and building upon the progress he and the team have made to date. I am also delighted to be working alongside TPG Capital again. We had a strong partnership at Punch and Spirit and it’s good to have the chance to recreate that.”