"Some 1,210 people will be made redundant as 68 restaurants in places including Brighton, Hull, Bristol, Leeds and Edinburgh shut their doors in the coming weeks. Eleven delivery outlets will also close as part of the administration. Administrators were appointed to DC London Pie Limited, which operates Pizza Hut's UK restaurants on Monday, while the global brand owner Yum! Brands stepped in to save the remaining 64 pizza restaurants and 1,276 jobs."
"Pizza Hut is well-known for its family-friendly dining and salad bar, but its UK business has been struggling and had previously gone into administration less than a year ago. Administrators FTI Consulting said DC London Pie had been hit by the combination of "challenging trading conditions and increased costs". Cashflow had come under pressure "as a result of tax-related obligations". DC London Pie had bought Pizza Hut UK's restaurants from insolvency in January this year."
Pizza Hut UK will close 68 restaurants and 11 delivery outlets, leading to 1,210 job losses while Yum! Brands preserved 64 restaurants and 1,276 jobs. Administrators were appointed to DC London Pie Limited, the operator of the restaurants, as cashflow was squeezed by tax-related obligations and higher costs. FTI Consulting said DC London Pie had faced challenging trading conditions and increased costs. DC London Pie had previously bought Pizza Hut UK's restaurants from insolvency in January and also owns Pizza Hut franchises in Sweden and Denmark. Joint administrator Matt Callaghan said the administrators will work with redundant employees to ensure they receive support.
Read at www.bbc.com
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