Pizza Hut will shut 29 of its 240 restaurants with up to 450 jobs at risk
- Pizza Hut is negotiating a company voluntary arrangement restructuring deal
- Popular restaurant chain said it faced ‘significant disruption’ from the pandemic.
- It expects that ‘sales are not expected to fully bounce back until well into 2021’
Pizza Hut has revealed plans to shut 29 of its 244 UK restaurants, in a restructuring move that will put about 450 jobs at risk.
The highly-popular restaurant chain said it faced ‘significant disruption’ from the coronavirus pandemic.
It said the affect of lockdown was so detrimental that ‘sales are not expected to fully bounce back until well into 2021’ despite a quick and safe reopening of sites.
It said it is negotiating a company voluntary arrangement (CVA) restructuring deal and added that the move will not affect operations or jobs at Pizza Hut Delivery or related franchises.
The company is also trying to protect about 5,000 jobs it’s remaining 215 restaurants.
Pizza Hut has announced plans to shut 29 of its 244 UK restaurants, putting around 450 jobs at risk
A Pizza Hut Restaurants spokeswoman said: ‘We are 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.
‘While we are likely to see 29 Hut closures and 450 job losses, any measures we take aim to protect about 5,000 jobs at our remaining 215 restaurants, as well as the longevity of the business.
‘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.’