"DC London Pie, the company running Pizza Hut's UK restaurants under a franchise deal, appointed administrators from the corporate finance firm FTI on Monday. The US company Yum! Brands, which owns the global Pizza Hut business as well as KFC and Taco Bell, has bought the UK restaurant operation in a pre-pack administration deal, saving 64 sites and securing the future of 1,276 workers."
"Those sites will be owned directly by Yum. Matt Callaghan, the joint administrator at FTI, said: This transaction provides a stable platform for one of the UK's best-known dine-in brands, securing the continuation of 64 Pizza Hut sites and importantly preserves 1,276 jobs. The joint administrators will continue to work with employees who have unfortunately been made redundant, to ensure they get the support needed."
DC London Pie, the franchisee operating Pizza Hut UK restaurants, entered administration and appointed corporate finance firm FTI as administrators. A restructuring will close 68 dine-in Pizza Hut restaurants and 11 delivery-only sites across the UK, placing 1,210 workers at risk of redundancy. Yum! Brands purchased the UK restaurant operation in a pre-pack administration deal, saving 64 sites and securing 1,276 jobs; those sites will be owned directly by Yum. Joint administrators will work with affected employees to provide support for those made redundant. A national list of affected locations was published.
Read at www.theguardian.com
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