According to information obtained by News, Wheel Topco is almost ready to hire the investment bank PJT Partners to counsel it on negotiations with its creditors.
One of the most well-known restaurant chains in the UK is PizzaExpress, which operates 359 locations throughout the UK and Ireland.
Its most recent reports state that its bond expires in July 2026, and that bondholder negotiations are anticipated to begin in the upcoming weeks.
A year after PizzaExpress considered a takeover approach for The Restaurant Group, which has Wagamama as its primary asset, news of PJT’s impending appointment has surfaced.
They appointed former Wagamama head David Campbell as chief executive and parachuted in Allan Leighton, one of Britain’s most well-known businessmen, as chairman.
Since then, Mr. Campbell has departed from the business.
The company reported in documents at Companies House that it had “continued to experience strong macroeconomic headwinds” in the UK and Ireland, resulting in a £7.5 million loss after tax last year.
TGI Fridays was recently sold in a pre-pack administration to Breal Capital and Calveton, the owners of exclusive London restaurants such as Le Pont de la Tour and Coq d’Argent. This is merely one instance of how challenging trading has triumphed over some of its rivals.
