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Tuesday 10th December 2019

Pizza Express fans worried the restaurant could CLOSE amid debt worry

Pizza giant preparing for debt talks with creditors

Fans have reacted with shock at the news that Pizza Express is set for crunch talks with its creditors over its debts.

The high street pizza chain has reportedly hired advisors to guide it through debt talks with its creditors amid tough trading conditions for UK restaurant chains.

Jamie Oliver's restaurant chain filed for insolvency in the spring.

While Prezzo – one of Pizza Express's competitions – has closed 94 of its stores.

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It makes me so sad if they go bust, I’m sick of seeing so many British establishments disappear.

In its 2018 accounts, Pizza Express reported net debt of £1.1bn, with interest charges of £93.1m, resulting in a pre-tax loss of £55m.

The chain's customers reacted to the news with sadness.

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Ooh La La Reine. Happy #bastilleday #pizzaexpress

A post shared by PizzaExpress (@pizzaexpress) on

One admitted they would be "genuinely devastated" if Pizza Express were to close its doors.

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Others threatened to do "something bad" if the chain collapsed.

Others joked about a rebrand, should the chain fold.

Others commented that it didn't come as much of a surprise that the restaurant was in trouble, given its prices.

Meanwhile, some tried to rally the troops in a bid to save the eatery.

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