Edinburgh's George Street to welcome popular chain serving up 'Italian classics'
Edinburgh's city centre is set to welcome a popular chain as they move in on George Street.
Prezzo will be opening their first new restaurants in five years, and are launching at 135 George Street. The unit was previously operated by Gusto, who announced they were going into administration in July.
The new eatery has said they are offering former Gusto employees new roles. After Prezzo purchased the site, they 'quickly engaged' with staff, who have been offered 'the same terms or better' after being made redundant.
Prezzo have seen 'strong performance' after recobering from the pandemic, and are revitalising menus and upgrading restaurants across the country. They're opening 40 more locations in the coming years, with 15 scheduled for 2025.
The chain was established in 2000, and currently has 96 sites across the country.
James Brown, CEO of Prezzo Italian, said: "This is a hugely exciting moment for Prezzo Italian, as we look to open our first new restaurants in five years. Gusto Italian's George Street site was an appealing investment, with high footfall in Scotland's capital city.
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"We have long been looking for additional Scottish locations as part of our long-term strategy to further grow our UK footprint. We are excited to come back to Edinburgh and deliver our new menu, reaffirming our position in the market as the 'home of the Italian classics'.
"Acquiring this prime location site in Edinburgh is a real statement of intent and shows the commitment and confidence we have in our brand. We are seeing fantastic results from the investment we've made in our restaurants and teams across the UK, and there is a renewed energy across the business. With double-digit sales growth and a pipeline of opportunities ahead, we're building a stronger, more relevant Prezzo Italian for the future."
Gusto CEO James Taylor sent a message to all staff, explaining that the venues were no longer making money. He said: "Following much consideration, we have sadly concluded that there is no realistic prospect of making these venues commercially viable.
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"Keeping them open would put pressure on the wider business, making it harder to invest where we know we can grow. This decision is not simply a response to the challenging UK hospitality market, but a proactive decision to redefine the bar division's focus.
"This is not a decision we've taken lightly. But as we evolve BrewDog into a more focused and sustainable business, we've had to be honest about where we are - and where we're heading."
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