With the 73 closures comes the loss of around 1,100 jobs, with restructuring plans approved by creditors.
Pizza Express is currently operating with 335 restaurants open, and is due to reopen another 30 over the next few weeks.
The company said its creditors had voted for the company voluntary arrangement (CVA) which will lead to 73 restaurant closures and 1100 jobs being lost.
Pizza Express said: “The directors of Pizza Express thank its creditors for their support during this period and look forward to ongoing partnership as the hospitality industry recovers to growth.
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This comes as Costa Coffee announced the cutting of 1,650 jobs across its cafes nationwide last week.
All Costa staff had been put on the furlough scheme with full pay, however with the scheme coming to an end the coffee shop chain said it would remove the assistant store manager role across all shops to save money.
The company said in a statement: “While trade is returning, helped by the government’s VAT reduction, which Costa passed on to customers in full, and the recent [eat out to help out] scheme, there remain high levels of uncertainty as to when trade will recover to pre-Covid levels.”
Fellow coffee shop chain Pret a Manger has also announced the closure of 30 stores and cutting of more than 1,000 jobs in the coming months.
The company said the impact of coronavirus on trading meant it had to make a “difficult decision”.
Pret said it needed to reduce headcount across its UK shops to “reflect lower footfall, rental costs and new safety measures”.