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Falling sales continue at PizzaExpress
In a trading statement issued yesterday, restaurant chain, PizzaExpress, confirmed sales in its core UK pizza operation have continued to fall since the announcement of its interim results.
Like for like sales for the 14 weeks to 6 April at those of the company's restaurants which have been open for at least 12 months at the start of the financial year, were down 9.4 per cent.
The company said: A number of operational initiatives have been introduced but intense competition, coupled with well documented economic and political factors, continue to delay improvements in sales performance.
PizzaExpress is currently the subject of a £278m takeover bid by Gondola Express, the bid vehicle of private equity firms Capricorn Ventures and TDR Capital. Details: www.leisureopportunities.co.uk and type 'Pizza' in the news search engine
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