Struggling private equity-backed restaurant group Pizza Express is set to be largely taken over by bondholders as the business reels under the strain of the coronavirus lockdown.
Struggling UK restaurant operator Azzuri Group has been bought by Towerbrook Capital Partners amid the company revealing it could slash up to 1,200 jobs as it battles to overcome the Covid-19 crisis.
Private equity house Hony Capital is at risk of losing its entire investment in UK pizza restaurant chain Pizza Express as the business reels under the strain of the coronavirus lockdown.
