CREDITORS of restaurant group Prezzo have backed a restructuring plan that will see it close 94 outlets, including in Hampshire.

It has now been confirmed that about a third of the chain's sites will close, leading to 500 job losses.

The 94 closures include restaurants under the Prezzo, Mexico and Cleaver brands and all 33 Chimichanga sites.

The Prezzo eatery on Oxford Street in Southampton and the Chimichanga outlet on the same road will be closing.

The Chimichanga restaurant in Eastleigh will also be shutting, though the Prezzo restaurants in Romsey, Winchester, Lymington, Eastleigh and Whiteley are all to remain open.

Prezzo boss Jon Hendry-Pickup said: “I would like to thank our creditors and landlords for supporting our transformation plan.

“While we continue to be profitable, the pressures on our industry have been well documented.

“Despite this being a tough decision, the support given by our creditors shows that they believe we have the right approach to transforming Prezzo in the eyes of teams, customers and stakeholders.

“It has been a challenging time and I would like to thank our suppliers, colleagues and customers for their patience and support.”

The 94 restaurants identified for closure are likely to shut in April and May, Prezzo said, and staff will be made aware of the exact dates as soon as they have been confirmed.

The news comes at a bleak time for the high street and the casual dining sector in particular.

Toys R Us and electronics retailer Maplin have crashed into administration, putting more than 5,000 jobs in jeopardy.

Burger chain Byron and Jamie’s Italian are among the others coming under increasing pressure from rising costs and falling consumer confidence.

As well as staff costs and lower footfall, the chains have been stung by the collapse in the pound, which has ramped up the cost of buying ingredients.

Soaring business rates, National Living Wage costs and the Apprenticeship Levy have also taken their toll.