, UK

PizzaExpress hires financial advisers ahead of debt talks

Sales in the UK and in its 150 international restaurants both fell last year.

PizzaExpress has hired advisers from Houlihan Lokey ahead of talks with creditors, whilst a group of secured bondholders has tapped Perella Weinberg Partners, Bloomberg has reported.

The 470-store pizza chain previously posted a decline in core earnings for the first half of the year and had a debt of £1.12bn by end-2018.

The restaurant group’s two tranches of debt are up for repayment in 2021 and 2022.

Read the full article here.

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