01:26USA: Up to 300 Pizza Hut locations to close as largest US franchisee goes bankrupt
Up to 300 locations of the Pizza Hut chain are expected to close, after the largest US franchisee of the brand filed for bankruptcy.
Footage from New York City on Monday shows several locations around the Big Apple.
The franchisee, NPC International, was reportedly struggling with near $1 billion in debt and filed for Chapter 11 bankruptcy in July. The firm will also sell 927 locations in addition to the 300 that will close, which amounts to roughly one fifth of the total restaurants in the United States.
According to reports, the Pizza chain has been shifting from being a dine-in restaurant, and has been promoting its delivery and take out options in recent years. The shift, as well as the ongoing coronavirus pandemic, have been cited as reasons for the franchisee's locations to underperform the national average, and the majority of the 300 restaurants to close are expected to be dine-in locations.
01:26Up to 300 locations of the Pizza Hut chain are expected to close, after the largest US franchisee of the brand filed for bankruptcy.
Footage from New York City on Monday shows several locations around the Big Apple.
The franchisee, NPC International, was reportedly struggling with near $1 billion in debt and filed for Chapter 11 bankruptcy in July. The firm will also sell 927 locations in addition to the 300 that will close, which amounts to roughly one fifth of the total restaurants in the United States.
According to reports, the Pizza chain has been shifting from being a dine-in restaurant, and has been promoting its delivery and take out options in recent years. The shift, as well as the ongoing coronavirus pandemic, have been cited as reasons for the franchisee's locations to underperform the national average, and the majority of the 300 restaurants to close are expected to be dine-in locations.