Pizza Express could close 67 restaurants - is Halifax in trouble?

Up to 1,100 jobs at restaurant chain Pizza Express are at risk as it plans to close 67 of its locations.
Pizza Express at Broad Street Plaza.Pizza Express at Broad Street Plaza.
Pizza Express at Broad Street Plaza.

The news comes as the chain plans to launch a company voluntary arrangement (CVA) in a bid to push down its rents.

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Calderdale has a Pizza Express location at Broad Street Plaza in Halifax, which is yet to re-open following its temporary closure due to the coronavirus pandemic.

It is unclear if the branch is affected by the plans.

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The outcome is 'yet to be decided' but the move could lead to the closure of 15 per cent of its 449 restaurants.

The company said: "This decision is a very difficult one; however, against the current unprecedented backdrop, Pizza Express believes reducing the size of its estate will help it to protect 9,000 jobs."

Group CFO Andy Pellington said: “Today’s agreement with our share and debt holders provides us with a significantly more robust balance sheet as well as material additional funding. It is a complete solution to our balance sheet issues and creates strong foundations to build on for future success.

“While we have had to make some very difficult decisions, none of which has been taken lightly, we are confident in the actions being taken to reduce the level of debt, create a more focused business and improve the operational performance, all of which puts us in a much stronger position.

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"We can now plan to invest in both our UK and International businesses as well as support our teams as they return to work.”

The news comes after Pizza Express announced 230 restaurants will be re-open by the end of this week.