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Hundreds of jobs are to go at restaurant chain Prezzo after its creditors agreed a restructuring plan.

The deal - known as a company voluntary arrangement (CVA) - will see 94 of its 300 outlets close, putting about 500 livelihoods at risk.

All its Chimichanga restaurants will close, shutting locations in Canterbury and Chatham.

The Prezzo restaurant in Whitstable. Picture: Google Street View (1276654)

It is also shutting its MEXIco eatery in Maidstone.

However, Prezzo restaurants in Broadstairs, Maidstone, Sevenoaks, Tenterden, Tunbridge Wells and Whitstable appear to have been saved.

The CVA deal has secured rent reductions between 25% and 50% across a 57 of its remaining sites over two years.

The Prezzo restaurant in Tenterden. Picture: Google Street View (1070708)

The chain owes £154 million to secured creditors, including Barclays Bank and the Royal Bank of Scotland, while scores of unsecured creditors are owed a total of £65.7 million.

Prezzo, which is owned by private equity firm TPG Capital, is the latest in a wave of high-profile names to use the insolvency measure.

Carpetright announced it was exploring CVA plans this week, while New Look received backing from 98% of its creditors for its proposals, which will lead to the closure of 60 stores.