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Report: PizzaExpress hires financial adviser for talks with its creditors

PizzaExpress Ltd. hired Houlihan Lokey Inc. to prepare for talks with its creditors, Bloomberg News reported, citing people familiar with the matter.

A group of secured bondholders in July appointed law firm Latham & Watkins LLP and started working with Perella Weinberg Partners LP, according to the people.

The 470-store pizza chain had a debt of £1.12 billion at the end of 2018. The restaurant group's two tranches of debt are up for repayment in 2021 and 2022.

Representatives for Houlihan Lokey, Perella Weinberg and PizzaExpress declined to comment, the report added.

PizzaExpress is owned by Beijing-based private equity firm Hony Capital (Beijing) Co. Ltd.