«Breaking News» Pizza Express could be the next casualty of the High Street crisis as it owes £1 BILLION in debt

The high street is poised for another blow following fears for the health of Pizza Express.

Questions are being raised by industry sources about the ability of the restaurant chain to repay its debt. The company, owned by the Chinese private equity firm Hony Capital, is due to repay around £650million over the next three years.

But its total debt stands at more than £1billion, according to the group's 2017 annual report.

Pizza Express faced interest costs of nearly £90million alone in 2017, when it made a £28.7million loss before tax. 

The high street is poised for another blow following fears for the health of Pizza Express (file photo)

A number of restaurant chains including Byron Hamburgers, Prezzo and Jamie's Italian were all forced to resort to rent restructurings known as company voluntary arrangements last year.

It came as figures show the number of shop visitors in December fell by 2.6 per cent in a year amid a rise in internet sales. 

Shopping centres were the worst hit, with a 3.9 per cent drop despite the Christmas sales, according to data from the British Retail Consortium and market analysts Springboard.

Diane Wehrle, of Springboard, said the decline showed retailers can no longer rely on Christmas trading to redeem revenue lost earlier in the year. Pizza Express declined to comment.

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https://hienalouca.com/2019/01/14/pizza-express-could-be-the-next-casualty-of-the-high-street-crisis-as-it-owes-1-billion-in-debt/
Main photo article The high street is poised for another blow following fears for the health of Pizza Express.
Questions are being raised by industry sources about the ability of the restaurant chain to repay its debt. The company, owned by the Chinese private equity firm Hony Capital, is due to repay around...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves Online news HienaLouca





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