DLC London Pie, which operates Pizza Hut’s restaurants in the UK, appointed administrators from corporate finance firm FTI today (20 October).
It was later announced that Pizza Hut UK, the company behind Pizza Hut’s delivery business, had bought the UK restaurant operation in a pre-pack administration deal, securing the future of 64 sites - which is understood to be a little under half of Pizza Hut Restaurant’s UK estate.
According to Pizza Hut UK’s owner Yum! Brands the deal has saved around 1,277 jobs, including some head office roles.
However, the future of Pizza Hut’s remaining sites, thought to be around 70 in total, is in doubt.
Early this year, the then circa 140-strong Pizza Hut Restaurants was sold out of insolvency to investment firm Directional Capital, which operates franchises in Sweden and Denmark.
Pizza Hut arrived in the UK in 1973 and was among the first brands to introduce US pizza styles to these shores including deep pan pizza and stuffed crust pizza.
Pizza Hut was founded in 1958 in Wichita, Kansas, by brothers Dan and Frank Carney.
Now headquartered in Plano, Texas, the largely franchised group has nearly 20,000 locations in over 100 countries.