Dozens of Pizza Hut restaurants to shut as chain enters administration
Dozens of Pizza Hut restaurants in the UK could close and hundreds of jobs could be at risk after the restaurant’s food service division went into administration.
Pizza Hut’s UK restaurant business has announced it will close 68 locations after going into administration. The rescue deal will save 64 facilities and secure the future of 1,277 workers.
As part of the prepackaged administration, Pizza Hut UK announced the acquisition of the Pizza Hut dining operations.
The statement reads: “We are pleased to secure the continuation of 64 sites to protect our guest experience and associated jobs. Approximately 1,277 team members, including restaurant leaders and support teams, will transfer to the new Yum! capital business under UK TUPE legislation.
Nicolas Burquier, managing director, international operating markets, said: “This targeted acquisition aims to preserve our guest experience and jobs where possible. Our immediate priority is operational continuity at the acquired locations and supporting our colleagues throughout the transition.”
More than 740 jobs at risk as 75 more restaurants not part of last-minute rescue deal Business Desk. The applicant behind today’s application is Yum! III (UK) Limited is a subsidiary of American food outlet operator Yum! Brands, Inc of Louisville, Kentucky, is handling the work.
Administration is the legal process by which managers appoint a manager to take control of the company and everything it owns in order to save the company. They have the power to dismiss, but if it is not possible to save the business they will try to return the money to creditors.
FTI were announced as administrators of DC London Pie Limited, the franchisee of Pizza Hut.
It’s been less than a year since DC London Pie Limited bought the chain’s restaurants out of bankruptcy.
Headquartered in Texas, the chain operates 19,866 restaurants worldwide as of 2023.
