Pizza Express plans 50 more restaurants in post-lockdown expansion

- Advertisement -


Tea

The CEO of Pizza Express has said the restaurant chain is “well underway” with a three-year schedule to open 50 more sites.

- Advertisement -

In contrast to the pandemic plans to increase the size of the asset, last year the firm completed a company voluntary arrangement that resulted in the closure of 73 restaurants with the loss of 1,100 jobs.

- Advertisement -

It was among businesses that had to temporarily close sites for indoor dining during the COVID-19 crisis, adding to the existing headwinds Pizza Express already faces ranging from higher business rates bills to increased competition. was doing.

The company concluded a £335 million refinance in July of this year following a takeover by bondholders. Former Wagamama boss David Campbell came on to help spearhead the turnaround plan.

- Advertisement -

In April it also launched a recruitment drive.

Today Pizza Express said sales since the start of the fiscal year from January to September 5 reached £182.5 million, with underlying profit of £22.2 million.

It said sales outperformed the CGA Peach Market Tracker every week, but since the return of the unrestricted meal in July.

Campbell said the firm “traded strongly” through its delivery and click and collect services during the latest lockdown.

Boss said: “With a strong balance sheet under new ownership and management, we will continue to invest in growing the brand above and beyond new openings and refurbishments. We expect good business continuity for the rest of the year and are optimistic about the prospects for 2022 and beyond.

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox