The Chinese owner of Pizza Express has injected £80m into the company in a bid to safeguard the chain’s future.
Hony Capital, which bought the company in 2014, has launched an offer to buy up £80m worth of the company’s unsecured bonds.
The move comes after the private equity firm appointed financial advisors before crucial talks with creditors last month over Pizza Express’ £1.1bn debt pile.
The new wave of cash will be used to help pay off debt which bondholders are owed
Pizza Express said: “Approximately 95 per cent of our UK and Ireland restaurants are profitable and there are no plans for closures outside the normal course of business.”