Over 1,000 jobs saved under a pre-pack deal
Pizza Hut UK will close 68 restaurants and 11 delivery sites, resulting in the loss of 1,210 jobs, after its local operator DC London Pie Limited entered administration, consultancy firm FTI Consulting announced on Monday, as reported by Reuters.
However, in a pre-pack administration agreement, Yum! Brands, the US-based global owner of the Pizza Hut brand, will acquire 64 restaurants, securing more than 1,000 jobs across the UK.
“This selective acquisition aims to protect customer experience and preserve as many jobs as possible. Our immediate priority is ensuring operational continuity across the acquired sites and supporting employees through the transition,” said Nicolas Burquier, Managing Director of Yum! Brands International Division.
The crisis at Pizza Hut comes amid a challenging environment for the UK hospitality industry, which continues to face rising operational costs, including higher wages and social contributions, while inflation has driven consumers to cut back on dining out.
Photo: Biz Journal
