Fears Norfolk could lose Pizza Express restaurants as chain calls in advisers
PUBLISHED: 15:26 07 October 2019 | UPDATED: 15:37 07 October 2019
Fans of Pizza Express are fearing for the chain’s future as it has reportedly called in financial advisers.
The chain is preparing for talks with creditors over its huge debt - which totalled £1.12 billion according to its latest company accounts.
The chain has two restaurants in Norwich's city centre - one at The Forum and one in St Benedict's Street.
It also has a third site in King's Lynn.
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Of the group's debt, £655.6 million is due to be repaid by August 2022 with the majority of this due by August 2021.
Pizza Express has been approached for comment.
The news has prompted fears that another chain might be leaving Norfolk - as the leisure industry's struggle has lead to a string of closures in recent months.
Café Rouge announced last month that it was set to leave Chapelfield, after Loch Fyne announced its closure in August.
The news also comes on the tails of The Restaurant Group's announcement that it will be closing more than 100 sites.
These include 76 Frankie & Benny's sites and a further 42 restaurants - made up of Wagamama, Chiquito and Coast to Coast.
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