Pizza Express gets £80m to allay financial fears

The Chinese owner of Pizza Express has injected £80m into the company in a bid to safeguard the chain’s future.

Hony Capital, which bought the company in 2014, has launched an offer to buy up £80m worth of the company’s unsecured bonds.

The move comes after the private equity firm appointed financial advisors before crucial talks with creditors last month over Pizza Express’ £1.1bn debt pile.

The new wave of cash will be used to help pay off debt which bondholders are owed

Pizza Express said: “Approximately 95 per cent of our UK and Ireland restaurants are profitable and there are no plans for closures outside the normal course of business.”

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