Nando’s Denies Reports It’s in ‘Crisis Talks’ over Debt

The chicken chain Nando’s has denied it’s in crisis talks over a reported debt pile after spending £20m equivalent of about 26.642 million dollars to make its UK restaurants Covid-secure.

Earlier media reports had said the bosses are holding discussions with Barclays to secure potential waivers to the covenants on £300 million equivalent of about 399.838 U.S. million dollars of loans,  according to recently filed accounts. The group’s UK arm employs almost 17,000 people and operates nearly 400 sites.

Dick Enthoven, the South African owner, injected 133.252 million dollars into Nando’s in September. It allowed the business to draw down about 166.56 million dollars from a corporate overdraft provided by Barclays.

The company says its restaurants in the UK were now open again, with the exception of its Gatwick Airport outlet.

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