Prezzo CEO steps down & former Spirit CEO to take over

Prezzo CEO Jon Hendry-Pickup is to step down after the restaurant chain’s CVA, with Karen Jones, the former chief executive of Spirit Group pub company, and a co-founder of Café Rouge, taking the helm.

The departure of Hendry-Pickup, who joined the company in 2016 and was the CEO of Travelodge, was confirmed by representatives for the group and a statement is expected shortly.

The news follows reports that private equity firm Carlyle Group is preparing to launch a takeover bid of the group.

The company's turnover has risen annually by 2% to £219m, with pre-tax profit standing at £5m, however, the firm struggled last year which resulted a CVA being sought last month.

The CVA saw the closure of 94 sites, leaving the estate at 208 outlets. The group's Tex-Mex brand Chimichanga and the Mexico collection of three restaurants closed.