Speculation that PizzaExpress is heading for a restructuring of its £1.1b debt pile is rife following reports advisors have been appointed.
Bloomberg reported on Friday that the casual dining chain, established by Peter Boizot in 1965, has enlisted Houlihan Lokey as it plans negotiations with creditors.
In its 2018 annual report the casual dining chain, bought by Chinese private equity firm Hony in 2014, reported debt levels of £1.1b, £607.7m of which was due to external creditors with the remainder lent by the parent company.
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