Pizza Hut closing 29 restaurants across the UK in latest blow to British high street
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Pizza Hut has announced plans to close many of its stores, putting around 450 jobs at risk. There are currently 244 restaurants in the country with plans to shut 29.
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.”
Pizza Hut said it is negotiating a company voluntary agreement (CVA) restructuring deal after it faced “significant disruption” from the pandemic.
The Pizza Hut Restaurants group said it has put forward its proposals as “sales are not expected to fully bounce back until well into 2021” despite a safe reopening of restaurants.
It added the move will not affect operations or jobs at Pizza Hut Delivery or related franchises.
The news comes after various offers were announced to support sales after the Eat Out to Help Out scheme came to an end.
Pizza Hut is just one of the high-street food chains facing the effects from the pandemic.
Earlier this week Pizza Express confirmed its restructure which will see 73 restaurants close.
The company currently has 449 restaurants in the UK.
The move will impact 1,100 members of staff.
The high street pizza chain employs more than 5,000 people in Britain and is the latest restaurant to implement changes to their business.
Pizza Hut had improved sales prior to the coronavirus outbreak, after a long period of under-performance.
Despite this, the chain has now turned to restructuring in order to cut costs.
Pizza Hut Restaurants is the main franchisee of the Pizza Hut brand in the UK, and is a separate company to the Pizza Hut UK business which focuses on deliveries.
This is a developing story, please refresh for updates
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