Shareholders in PizzaExpress are making ready to inject tens of thousands and thousands of kilos into its guardian firm to assist safe a refinancing of its debt amid powerful buying and selling in Britain’s informal eating sector.
Metropolis sources stated on Thursday {that a} deal had but to be finalised, and that the figures had been topic to additional negotiations.
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The arm of Bain Capital, one of many world’s greatest buyout corporations, and Cyrus Capital Companions had been a part of a gaggle of bondholders which took management of PizzaExpress following a monetary restructuring.
PizzaExpress trades from roughly 350 websites within the UK and Eire, and is one among Britain’s most distinguished restaurant chains.
The guardian firm has a £335m bond which matures in July 2026.
Its refinancing talks come 18 months after PizzaExpress explored a takeover bid for The Restaurant Group, which counts Wagamama as its predominant asset.
The corporate finally declined to bid, citing market situations.
PizzaExpress is chaired by Allan Leighton, one among Britain’s most distinguished businessmen and just lately put in as chairman of Asda.
A spokesman for Bain Capital Particular Conditions declined to remark.
