According to information obtained by News, The Restaurant Group (TRG), which was acquired by Apollo Global Management and delisted from the London Stock Exchange last year, is negotiating new debt conditions with banks.
According to sources, the action was a result of the business’s strong performance after going private.
TRG also owns a network of pubs called Brunning & Price and Wagamama, which has grown to be one of the largest casual eating franchises in Britain.
Shortly before Apollo made a bid for the business, it sold a number of other restaurant properties to another operator, Big Table.
Andy Hornby, the former head of HBOS, Boots, and Gala Coral, is in charge of TRG.
A lengthy activist battle against TRG’s board preceded its sale.
PizzaExpress considered making an offer at the time of Apollo’s takeover but said “market conditions” prevented them from doing so.
News reported this week that PizzaExpress was bringing on bankers from PJT Partners to provide refinancing advice.
