THERE are concerns about the future of Pizza Express after the company reportedly hired financial advisers ahead of a meeting with lenders to review its debt situation.

The 470-store chain made losses for the last two years as operating profits were hit by high interest payments on its £1.1 billion debt, which is costing the firm £93 million a year.

Sales also fell last year, according to the BBC, which says Pizza Express has 14,000 staff and is owned by Chinese private investment firm Hony.

The BBC added: "To be clear, Pizza Express is not in imminent danger of going bust.

"It has until 2021 before it needs to start paying back £600 million to its outside creditors. The other £500m is a loan from its Chinese owners.

"But debt is a serial company killer - just ask Carillion or Thomas Cook. It can suffocate a company, so the earlier you try and address the issue the better."