Is Pizza Express in Stockbridge closing down?
Is Pizza Express in Stockbridge closing down?
The Pizza Express site in Stockbridge will sadly be closing its doors for good this month after becoming an iconic staple of Deanhugh Street. One of seven in Edinburgh, the restaurant will be the second to close in the past few years, after the Leith branch also closed its doors during the pandemic.
What is replacing Pizza Express Stockbridge?
Operating in the building for over a decade, Pizza Express closed their doors at the end of February, with Franco Manca set to refit the site and open in the coming months.
Why is Pizza Express closing down?
The closures come after the chain shut 74 restaurants after entering a company voluntary arrangement (CVA) in September 2020. The CVA reduced rents and gave landlords the opportunity to terminate leases until 3 December. A number of sites have already been returned to landlords.
What is happening with PizzaExpress?
Pizza Express is the latest chain to close restaurants and cut jobs – the owner of the Ask Italian and Zizzi pizza chains is to permanently close 75 restaurants with the loss of up to 1,200 jobs, while Casual Dining Group, the owner of Bella Italia, Café Rouge, and Las Iguanas, shut 91 outlets when it went into …
Is PizzaExpress going bust?
Pizza Express confirmed the news in an update today after first proposing the restaurant closures and cut jobs in August 2020. These plans have now been approved by 89% of the creditors it owes money to, after they voted in favour of a Company Voluntary Arrangement (CVA).
Is PizzaExpress a failure?
The good news for Pizza Express is that its brand remains strong, sales are growing, and the business is profitable – so it is unlikely to fail in the short term. The bad news is that restructuring to relieve the debt burden may mean losses for landlords, suppliers, local councils and possible redundancies for staff.
What was the first pizza chain in the UK?
— Pizza Express was the first chain of pizza restaurants in Britain, its first branch opening in Wardour Street in 1965.
Who owns PizzaExpress now?
Hony CapitalPizzaExpress / Parent organization
Who is the CEO of PizzaExpress?
Jinlong Wang (2017–)PizzaExpress / CEO
Who owns PizzaExpress?
Hony CapitalPizzaExpress / Parent organization
Now owned by Chinese private equity company Hony Capital, PizzaExpress is the UK’s largest casual dining operator and currently operates 460 restaurants worldwide.
Is PizzaExpress still in debt?
PizzaExpress has £1.1bn of loans with some £665m of the debt formed of corporate bonds, which must be repaid starting in 2021. It was reported last month that a handful of hedge funds, including CarVal and Cyrus Capital, had begun buying into the debt-laden dining chain’s heavily discounted corporate bonds.
Where can I find Pizza Hut in Edinburgh?
You’ll find us between Georgian Newtown and the historic streets of Edinburgh’s old town, just off the Royal Mile – a mid-point between Edinburgh Castle and Holyrood Palace. Beyond pizza, there are cookies – we use the non-edible kind on this site.
What’s on at Pizza Express Live?
We’ve teamed up with Notion and Nordoff Robbins to invite the very best of the UK’s musical talent to talk about the power music has had on their lives. See which shows are on at our Pizzaexpress Live venues. Our corner of the world dedicated to Piccolos – discover our menu and find fun, interactive games to entertain the whole family.
How many favourite meals can you have at Pizza Express?
You can only have four favourite meals. Would you like to replace any of your favourites with? An update to all our customers. For information on how we are keeping you and our teams safe visit pizzaexpress.com/covid-19/faq.