PIZZA Express is reportedly in talks with creditors today, Monday, amid worsening financial problems.
The Italian restaurant chain is said to have accumulated £1.6 million of debt per restaurant.
In 2018, Pizza Express - which has a restaurant in King Street, Knutsford, and Alderley Road, Wilmslow - reported net debt of over £1bn, and made a pre-tax loss of £55m.
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
Founded in 1965, the Chinese-owned restaurant group has more than 470 restaurants across the UK and 100 overseas.
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