Financial advisory firm Langton Capital Tweeted today: "Pizza Express reportedly about to engage in talks with creditors".
The group's most recent accounts show the chain's total debt was £1.1bn at the end of past year - working out at around £1.8m a restaurant.
Of that, £655.6 million is due to be repaid by August 2022 - a large chunk of it in August 2021.
One admitted they would be "genuinely devastated" if Pizza Express were to close its doors.
Pizza Express, which has over 450 restaurants across the United Kingdom, could be on the brink of collapse.
Jamie Oliver's Italian chain also filed for insolvency in May this year, with all but three of the TV chef's 25 United Kingdom restaurants shutting it's doors.
He added: "It has been reported that is Pizza Express is set to hire advisers to help them negotiate with their creditors".
What do you think of Pizza Express' reported struggles?
While another fan of the budget Pizzeria wrote: "We will pay full price for our La Reine on a Romana base!"
The business, which has restaurants at Trinity Walk, Wakefield and Xscape, Castleford, is said to be blaming "tough trading conditions for United Kingdom restaurant chains".
Celebrity chef Jamie Oliver shut all 23 of his restaurants across the United Kingdom back in May.
Pizza Express has been contacted by Express.co.uk for comment.
Speaking about his restaurants shutting, Jamie said at the time: "I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business for over a decade".
Are we heading towards a world without pizza?!