PizzaExpress shareholders to inject recent dough into chain

Shareholders in PizzaExpress are getting ready to inject tens of thousands and thousands of kilos into its mum or dad firm to assist safe a refinancing of its debt amid robust buying and selling in Britain’s informal eating sector.

Sky Information understands that Bain Capital Particular Conditions, which is known to be the biggest shareholder in Wheel Topco, is anticipated to stump up within the area of £30m as a part of a refinancing of the corporate’s stability sheet.

Metropolis sources mentioned on Thursday {that a} deal had but to be finalised, and that the figures have been topic to additional negotiations.

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Final autumn, Sky Information revealed that Wheel Topco was lining up bankers from PJT Companions to advise on the refinancing.

PizzaExpress trades from roughly 350 websites within the UK and Eire, and is one in every of Britain’s most outstanding restaurant chains.

The mum or dad 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 most important asset.

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The corporate finally declined to bid, citing market circumstances.

PizzaExpress is chaired by Allan Leighton, one in every of Britain’s most outstanding businessmen and not too long ago put in as chairman of Asda.

A spokesman for Bain Capital Particular Conditions declined to remark.