Pizza Express 'hires financial advisers' ahead of crunch talks about crippling debt

Pizza Express has outlets across Kent- including this one in Ramsgate

Monetary consultants Langdon Capital tweeted earlier at present: 'Pizza Categorical reportedly about to have interaction in talks with collectors.

Pizza Express appears destined for a debt restructuring that could bruise its lenders, as sources with knowledge of the situation played down concerns it was in financial difficulty.

Plus, Bloomberg adds that the group's accounts at the end of past year reportedly show a total debt of £1.2 billion.

According to Bloomberg, the group has hired advisers ahead of talks with creditors who hold £465m of debt due for repayment in 2021 and £200m due the following year.

Yep, the popular Italian chain, which brought dough balls to all of our hometowns, is at risk of becoming the latest high-street eatery to collapse.

Fans of Pizza Express are fearing for the chain's future as it has reportedly called in financial advisers.

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Pizza Express, which opened its first outlet in Wardour Street in London's Soho, now has more than 600 restaurants globally, including around 20 in Scotland.

As a fourth dramatically chipped in: "If Pizza express goes bust I'll literally cry".

What do you think of Pizza Express' reported struggles?

The business, which has restaurants at Trinity Walk, Wakefield and Xscape, Castleford, is said to be blaming "tough trading conditions for United Kingdom restaurant chains".

This comes after Pizza Express' major Italian restaurant competitor Prezzo shut down the majority of its restaurants a year ago.

Celebrity chef Jamie Oliver shut all 23 of his restaurants across the United Kingdom back in May.

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