The Daily Star's FREE newsletter is spectacular! Sign up today for the best stories straight to your inboxPizza Express’ plans to close 73 restaurants have been approved by its creditors.A sizeable 89% of its lenders voted for the Company Voluntary Arrangement (CVA) restructuring deal.A CVA allows a company with debt problems or that is insolvent to reach a voluntary agreement with its business creditors regarding repayment of all, or part of its corporate debts over an agreed period of time.This should help to secure rent reductions and slash external debt from £735 million to £319 million.It also allows £144 million in funds to be reinvested into future business operations.These closures will have an impact on staff members though,.
Read more on dailystar.co.uk