Popular Fast Food Chain Enters Administration Endangering Thousands of Jobs
Pizza Hut has entered administration, jeopardizing thousands of jobs and impacting numerous restaurant locations across the UK. This latest development follows an unsuccessful attempt to save the chain with a prior rescue deal.
Impact of Administration on Pizza Hut
The recent administration announcements involve 68 dine-in branches at risk of closure. In total, approximately 1,723 jobs are under threat as a result of the company’s financial distress.
Despite this grim news, owners managed to secure a deal focused on retaining takeaway and delivery services. A spokesperson for Pizza Hut confirmed the acquisition of dine-in operations through a pre-packaged administration process, revealing that FTI Consulting has been appointed as the administrators for DC London Pie Limited, a franchisee of the restaurant chain.
Job Retention Efforts
As part of the acquisition deal, 64 sites will remain operational to ensure a seamless guest experience. This move will protect many associated jobs, with approximately 2,259 team members transferring to the new Yum! equity business, which includes leadership roles and support staff.
History of Pizza Hut in the UK
- Year Established: 1973
- Peak Operations: Over 260 restaurants
- Employee Count: 10,000 staff members
- Monthly Customers: 3 million
Pizza Hut’s presence in the UK has seen it become a beloved option for many. Nevertheless, the current challenges faced by the chain highlight the volatile nature of the restaurant industry.
With the continued support for takeaway and delivery operations, Pizza Hut aims to navigate this crisis while protecting as many jobs as possible. The ongoing developments will be crucial in determining the future of this iconic pizza brand in the UK.
