Future of Pizza Express in Grantham uncertain as large debts revealed
Pizza Express is said to be the latest major restaurant chain to be struggling with the tough conditions on the high street.
The brand, which has a restaurant in Grantham's The George Centre, is understood to have appointed its financial advisors for crunch talks with its creditors.
It comes amid a growing mountain of debt and ongoing challenges in a competitive market.
Financial advisory firm Langton Capital tweeted today: "Pizza Express reportedly about to engage in talks with creditors.
"Last seen, had £1.6m of debt per restaurant. Not sustainable."
Financial specialists Bloomberg is reporting Pizza Express has appointed financial advisor Houlihan Lokey to "prepare for talks with is creditors".