UK Pizza Hut Shakeup: Dozens of restaurants belonging to the popular supplies uniting Pizza Hut in the UK are set to close, putting the jobs of hundreds of employees at risk. The company's dine-in restaurant merchantry has been placed under legalistic control. On October 20, the visitor spoken that Pizza Hut UK will tropical 68 restaurants and 11 wordage sites, resulting in the loss of approximately 1,210 jobs. This move comes without DC London Pie Limited, the visitor that operates these restaurants, placed itself under legalistic control. The visitor has scheduled FTI Consulting as zookeeper for this process.
Plan to Save 64 Restaurants
However, Yum! Brands, the global owner of Pizza Hut, has released some relief news. The visitor has well-set to save 64 restaurants, safeguarding the jobs of approximately 1,277 employees. Under this agreement, these restaurants will now wilt part of the new Yum! Equity business.
The visitor said, "We are pleased to maintain the continuity of 64 sites to modernize our guest wits and ensure job security."
British Merchantry Facing Financial Crisis
Pizza Hut is known for its family-friendly supplies and salad bars in the UK, but its merchantry has been struggling for the past few years. It plane went into wardship well-nigh a year ago. DC London Pie Ltd. uninventive Pizza Hut UK restaurants from bankruptcy in January this year. The visitor moreover operates Pizza Hut franchises in Sweden and Denmark.
Company Management Statement
Nicolas Berquier, Managing Director of Pizza Hut Europe and Canada, said, "Our aim is to modernize our guest wits and save as many jobs as possible. Our priority at this time is to maintain operational continuity at the uninventive locations and support our toadies during the transition."
740 jobs still at risk
According to reports, increasingly than 740 jobs are still at risk without increasingly than 75 dine-in restaurants failed to participate in a last-minute rescue agreement. Administration is a legal process in which a company, with the clearance of its directors, appoints an zookeeper to save the merchantry and its assets. If saving the merchantry is not possible, the administrator's role is to ensure repayment to creditors.
