Casual restaurant chain Pizza Express has announced its employment of finance advisors at corporate firm Houlihan Lokey to prepare for debt talks with creditors as the firm debt stands at £665m.
Bloomberg Finance reported that advisors will sit down with creditors to organise company debts.
Pizza Express declined to comment.
It’s also reported that Pizza Express is reorganising its debt.
Its partial payment of £200m will be paid in the following year.
In the first half of 2019, Pizza Express said that it had a 0.2% rise in like-for-like sales as difficult trading conditions raised.
The company also posted a 7.7% decline in carrying earnings to £32.4 million for the period, with the slump blamed on rising costs.