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Fears Expresses Over Pizza Express Level of Debt

PizzaEx_ID_1312x738Concerns are being raised over the health of high street giant Pizza Express.

The popular Italian eatery is owned by Chinese private equity firm Hony Capital, however conerns are mounting over how it will repay £650million of debt over the next three years.

Overall, the chain has an estimated £1billion in outstanding loans, the Group’s 2017 annual report states, resulting in £90million in interest that year, contributing to overall losses of £28.6million before tax.

Now fears are rising that that the debts could be too much as the high street struggles.

Last year a number of chains including Prezzo, Byron Hamburgers, and Jamie’s Italian shut branches while others restructured in an effort minimise costs.

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