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Italian-themed restaurant chain Prezzo is set to close up to 100 of its 300 restaurants, including some of its Tex-Mex chain Chimichanga, putting hundreds of jobs at risk.

Prezzo, which is owned by private equity firm TPG Capital, is reported to be about to launch a Company Voluntary Agreement as it goes ahead with a major restructuring of the business. 

It comes as other restaurants have run into trouble so far this year, including Jamie Oliver's Jamie's Italian and his upmarket steak chain Barbecoa.

The famous chef announced the closure of 12 outlets earlier this month, after closing down six last year. 

Burger joint Byron and Italian chain Strada are also among the other businesses that have already triggered closures so far this year.  

Prezzo, which is working with AlixPartners on the restructuring, real madrid drakt employs 4,500 people. 

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

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

The sector is facing a series of challenges: the weakness of the pound since the Brexit vote means restaurants are paying higher prices for food when consumers are balking at price hikes. 

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