Pizza Express: We're still making dough - BBC News

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The chain had actually been experiencing monetary difficulties occurring from a decline in consumer need for consuming out. In March 2020, all UK dining establishments were forced to close forever due to nationwide lockdown guidelines introduced by the federal government to restrict the spread of COVID-19. On 28 May 2020, choose London restaurants reopened for shipment services as the government started to raise lockdown limitations.

The restaurant group was reported to have a financial obligation stack of 1. 1 billion. The next month, it was revealed that the business was set to close around 67 restaurants throughout the UK and also cut 1,100 jobs. In July 2020, business was taken control of by its bondholders under a debt-for-equity swap with previous owner Hony Capital.

In November 2020, the group restructure finished and helped cut the casual dining chain's debt by more than 400 million. A further 23 branches were allocated for closure in January 2021. Ownership [edit] Pizza, Express was floated on the London Stock Exchange in 1993 with franchises opening throughout the UK. UK franchises were then purchased back en masse in 1996.

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In 2005, Pizza, Express drifted on the London Stock Market, as part of Gondola Holdings. It was then purchased by private equity group Cinven as the Gondola Group in 2007. On 12 July 2014 it was revealed that Chinese group Hony Capital had actually purchased Pizza, Express for 900 million. In July 2020, business was taken over by its shareholders under a debt-for-equity swap with previous owner Hony Capital.

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Because its foundation, Pizza, Express has actually specialised primarily in handmade pizza in the traditional Italian design. Pizza, Express introduced the lighter pizza Leggera, the very first pizza range on the high street that contains around 500 calories. In 2008, Pizza, Express started a Visitor Chef Series with chef Theo Randall, of Theo Randall at Inter, Continental London, developing exclusive meals for its menu.

The star chef series continued in 2012 with the intro of 2 pizzas made by television cook Valentine Warner. Warner introduced the fennel and salami pizza and the puttanesca pizza. , Express has actually supported the jazz community from its early days when it opened its very first jazz club in 1969 in Dean Street, London.