Pizza Hut Planning To Shut 29 Restaurants As Part Of Restructuring Move
Pizza Hut has announced that it is planning to shut 29 of its 244 restaurants in the UK as part of a restructuring move that will put approximately 450 jobs at risk.
According to The Irish News, the fast food chain said that it is negotiating a company voluntary arrangement (CVA) restructuring deal due to the adverse impact that the COVID-19 crisis has had on its business, and that it does not expect its sales "to fully bounce back until well into in 2021".
The move will not affect jobs at Pizza Hut Delivery or related franchises.
"Committed To Doing The Right Thing"
The Irish News quotes a Pizza Hut spokesperson as saying, "We're committed to doing the right thing and, in order to secure as many jobs as possible and continue serving our communities, we are working to reach an agreement with our creditors.
"We understand this is a difficult time for everyone involved.
"We appreciate the support of our business partners and are doing everything we can to help our team members during this process, including speaking with those affected by the consultation."
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.