Prezzo appoints new CFO amid ‘strategic review’ of its restaurants

Jo Harrison has been appointed chief financial officer of Prezzo amid a restructuring plan that will likely see the closure of almost a third of the group’s restaurant estate.

The casual dining chain said in April it was planning to shut 46 loss-making sites after struggling with the rising cost of everything from energy to dough balls.

Prezzo described her appointment as the “final chapter of a strategic review for the business” to ensure growth “in a difficult period for the entire casual dining sector”.

Harrison will oversee the implementation of “changes announced earlier this year”, Prezzo said, which would result in the loss of around 800 jobs, should the group’s decision to trim its portfolio to 97 restaurants go ahead.

Harrison replaces Matt Prior, who left the business in February, and joins Prezzo from chocolate retailer Hotel Chocolat, where she worked as director of finance for eight years.

Prior to that, she spent time working in senior management and leadership roles across leisure and retail, including three years at JD Wetherspoon and 11 years at Tesco.

In her current role, she will also play a part in investment decisions related to menu development and ingredients, while ensuring costs are balanced with rising inflation.

Harrison said: “I am confident together we can ensure sustainable and profitable growth as we take Prezzo through this next chapter, creating long-term value for all our stakeholders.”

Dean Challenger, chief executive at Prezzo, added: “Jo joining us is the final part of our plans to make sure Prezzo has a strong future right at the heart of the casual dining sector. We are pleased she can see the huge potential the brand has and wants to join us on that journey.”