Pizza Express Restaurants Put 1300 Redundancies on the Menu | Eater London

"Facing a heavy debt burden built up through private-equity deals, the chain moved from an initial round of closures—73 restaurants that cost about 1,100 jobs—into a further restructuring that will eliminate roughly 1,300 more roles. The company says the COVID-19 pandemic accelerated the downturn but that an accumulated £1.1 billion of debt left it vulnerable, and it points to a 'polo mint' economy in which city-center sites have been hit far harder than suburban and out-of-town locations. With footfall expected to remain weak into the winter months, management has said it must reduce the size of its restaurant teams." - James Hansen