TAUNTON'S Prezzo restaurant is to close as its parent company looks to slash costs.

The Taunton restaurant is one of 94 owned by private equity firm TPG Capital to shut in a bid to repair the chain's financial position.

Prezzo is closing 94 restaurants - including all 33 outlets in its TexMex chain Chimichanga - leaving the firm with 208 sites.

The Italian restaurant chain has entered a restructuring arrangement know as a company voluntary arrangement (CVA) - a step short of going into administration.

The documents reveal the chain owes banks and suppliers £220m, The Telegraph reports.

The Taunton and Yeovil branches are marked for closure.