Pizza Hut to stay in business but 29 outlets to close

Pizza Hut has persuaded enough creditors and landlords to vote in favour of cutting rents and bills to keep the pizza chain’s restaurants in business, the company has announced.
By The Newsroom
Published 28th Sep 2020, 12:31 BST
File photo dated 9/9/2020 of signage for a Pizza Hut Restaurant. Pizza Hut has named the 29 restaurants it will shut for good as part of a major restructuring with the expected loss of about 450 jobs.File photo dated 9/9/2020 of signage for a Pizza Hut Restaurant. Pizza Hut has named the 29 restaurants it will shut for good as part of a major restructuring with the expected loss of about 450 jobs.
File photo dated 9/9/2020 of signage for a Pizza Hut Restaurant. Pizza Hut has named the 29 restaurants it will shut for good as part of a major restructuring with the expected loss of about 450 jobs.

The Company Voluntary Arrangement (CVA) was voted through on Monday and will result in the closure of 29 of Pizza Hut’s 244 restaurants, with 450 jobs at risk. The deal will see 5,000 jobs saved across its remaining sites.

A Pizza Hut Restaurants spokesperson said: “The Company Voluntary Arrangement (CVA) for Pizza Hut Restaurants, (PHR – the UK dine-in franchise business of the global Pizza Hut brand), is now approved.

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“We are delighted to have reached such a constructive position in partnership with our landlords and creditors. We appreciate the support of everyone involved and this outcome provides us with a strong platform to secure the long-term future of the business including over 5,000 jobs and over 200 restaurants. Our focus is now ‘business as usual’ supporting all of our team members and continuing to provide a Covid-safe restaurant experience for our guests.”

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