Caffe Nero has hired Lazard to help it refinance debts of almost £150m and keep the billionaire Issa brothers at bay.
Mohsin and Zuber Issa own £180m of Caffe Nero’s lower-ranking debts, which would enable them to seize control of the coffee shop chain should it default on its debts.
Lazard is said to be advising on refinancing Caffe Nero’s existing debt, held by a group including HSBC, Santander, Lloyds and Rabobank, with alternative lenders.
