Up to 300 Pizza Hut locations are set to close in the aftermath of the chain's largest franchisee filing for bankruptcy
Up to 300 Pizza Hut locations are set to close across the US in the aftermath of the chain's largest franchisee, NPC International, filing for bankruptcy.
"The optimization of NPC's Pizza Hut restaurant footprint is expected to increase the potential value that could be generated from the Pizza Hut business, either through the sale path, or if value is not maximized through such effort, through a standalone plan of reorganization, and possibly through a hybrid of the two options," NPC said in a press release on Monday.
"Deteriorating brand recognition has been further exacerbated by decreased menu innovation and the lack of a clear, long-term strategy by the Pizza Hut Franchisor to address the brand issues to provide a clear and differentiated identity," NPC said in its Chapter 11 filing.
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