Future of Pizza Express in Stamford uncertain as large debts revealed
Pizza Express is said to be the latest major restaurant chain to be struggling with tough conditions on the high street.
The brand, which has a branch in Stamford, is understood to have appointed its financial advisors for talks with its creditors.
It comes amid growing debt and on-going challenges in a competitive market.
They have already seen the likes of outlets run by Jamie Oliver and Prezzo close restaurants, with Prezzo putting a Company Voluntary Agreement (CVA) in place to help it stay afloat.
Financial advisory firm Langton Capital tweeted today: "Pizza Express reportedly about to engage in talks with creditors.
"Last seen, had £1.6m of debt per restaurant. Not sustainable."
Financial specialists Bloomberg is reporting Pizza Express has appointed financial advisor Houlihan Lokey to "prepare for talks with is creditors".
Pizza Express head office has been contact for comment.
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