Lord St Pizza Express at risk as parent company approaches insolvency

A popular pizzeria in Southport is in danger of being closed for good.

National chain Pizza Express is to close at least 75 of its restaurants as part of a rescue plan which could put more than a thousand jobs at risk.

Parent company Hony Capital’s most recently published accounts from 2018 show £1.1bn worth of debt.

Staff at the Lord Street Pizza Express restaurant will be hoping their store is kept off the list of target cuts. The closures would be made as part of an insolvency process called a company voluntary arrangement.

The CVA would be used by Pizza Express to cut its rent obligations across the UK.

Pizza Express is currently situated in The Old Bank on Lord Street, a grade II listed building.