Pizza Hut will close 68 restaurants in the United Kingdom and destroy more than 1,200 jobs

Pizza Hut is going through difficult times in the United Kingdom. The legendary restaurant chain has announced the closure of 68 establishments and 11 delivery centerswhich will mean the dismissal of 1,210 people, according to British media such as the BBC, Daily Mail and Sky News. The restaurant chain’s business on English soil was acquired by DC London Pie last January, when it was once again facing insolvency.

In itself, this Monday, the DC Londo PIe is already in the hands of the bankruptcy administration from FTI Consulting. However, the global owner of the brand Yum! Brands has reached an agreement to save another 64 restaurants in the United Kingdom, ensuring employment for 1,276 people. According to the BBC, Pizza Hut is well known for its family menus and variety of salads and had already been close to solvency less than a year ago until being acquired by DC London Pie. Likewise, it also has franchises in Sweden and Denmark.

“We are delighted to ensure the continuation of 64 establishments for safeguard our customers’ experience and protect our workers said a spokesperson for Pizza Hut UK. In this sense, the director of operations of Pizza Hut Europe and Canada added that “this successful acquisition seeks ensure our customer experience and protect as many jobs as possible.” In this regard, he added that “the immediate priority for Pizza Hut was operational continuity in the acquired locations and supporting our partners during the transition.”

Flirting with bankruptcy

In January of this year, an American financial firm acquired the 139 restaurants that had operated under the brand until now. Pizza Hut, and saved around 3,000 jobs. A figure that in these months has fallen to 132 establishments and that contrasts with the almost 240 restaurants five years ago, when the first closures associated with covid began to be announced.

The owner of DC London Pie, the American Directional Capital, They acquired the pizza chain at the beginning of this year after the firm entered the pre-bankruptcy process. The previous owner, Hert with Smart Limited, went bankrupt after the debt of almost 40 million pounds with the Pricoa Capital fund, according to specialized publications such as The Business Desk. In itself, media such as The Daily Mail highlight that this agreement has only prolonged the march of a business that was heading towards an inevitable collapse.