Iain Dale 7pm - 10pm
Pizza Express 'Hires Financial Advisers' Ahead Of Debt Talks
7 October 2019, 13:53
The pizza chain is reportedly seeking financial advice as it prepares for crisis talks over a large amount of debt.
The group's most recent accounts show the chain's total debt was £1.1bn at the end of last year - working out at around £1.8m a restaurant.
About half of the debt is due to be repaid by August 2022.
Financial consultants, Langton Capital, wrote on Twitter: "Pizza Express reportedly about to engage in talks with creditors."
Pizza Express reportedly about to engage in talks with creditors. Last seen, had £1.6m of debt per restaurant. Not sustainable.— Langton Capital (@langtoncapital) October 7, 2019