Pizza Hut to Close 68 UK Restaurants as Parent Company Enters Administration
Pizza Hut is set to close 68 restaurants across the UK following the administration of its parent company, DLC London Pie. This decision raises concerns about the future of numerous employees as the restaurant group has not disclosed how many jobs may be affected.
Background on Pizza Hut’s UK Operations
DLC London Pie, the entity managing Pizza Hut’s UK locations, appointed administrators from FTI Consulting on Monday. This situation marks a significant turn for the chain, as it comes less than a year after the company had acquired the restaurants from a previous insolvency.
New Developments in Ownership
Yum! Brands, the American multinational that owns Pizza Hut globally, stepped in to execute a pre-pack administration deal. This agreement will preserve 64 of the UK restaurant sites and ensure the employment of around 1,277 individuals.
Impact of Restaurant Closures
- Total restaurants closing: 68
- Restaurants saved: 64
- Workers potentially affected: Unspecified
- Jobs secured: 1,277
Looking Ahead
This news signals a turbulent period for Pizza Hut in the UK, even as it continues to navigate the challenges of the hospitality industry. Further updates will follow as more information becomes available.
