Published:
Pizza Hut Restaurants to shutter 29 outlets
About 450 people will lose their jobs as a result.
Pizza Hut Restaurants has confirmed plans to close about 29 of its 244 sites across Britain.
The closures will happen through a company voluntary arrangement (CVA), an insolvency process that enables businesses to shed uneconomic outlets and cut rents.
The chain is understood to have opted for a CVA in a bid to reduce its annual rent obligations of more than £20 million.
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 is more focused on food delivery from a further 380 sites.
