Hundreds of Pizza Hut Locations Set to Close

(photo courtesy of Pizza Hut)

Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now

This audio file is brought to you by

0:00

0:00

Loading audio file, please wait.

Speed
1.00

• 0.25
• 0.50
• 0.75
• 1.00
• 1.25
• 1.50
• 1.75
• 2.00

Texas-based Pizza Hut is planning to close up to 300 locations as part of a deal between the Kentucky-based Yum Brands Inc. (NYSE: YUM) chain and its largest U.S. franchisee, NPC International. CNBC reports NPC is also putting its remaining 927 Pizza Hut locations up for sale.

NPC operates Pizza Hut restaurants in Bloomfield, Brazil and Linton, though it is unclear if any of those locations will be closed..

“In the event NPC executes a sale of its Pizza Hut business, Pizza Hut’s focus would be to ensure that new ownership brings to NPC’s Pizza Hut restaurants a strong capital structure, healthy balance sheet, commitment to operational excellence, and a growth mindset,” a Pizza Hut spokesperson said in a statement to CNBC.

The franchisee filed for Chapter 11 bankruptcy protection in July. NPC’s 1,227 Pizza Hut locations account for a fifth of the chain’s total nationwide footprint.

Employees at shuttered Pizza Hut restaurants operated by NPC will be moved to better-performing locations, if possible, according to Pizza Hut’s statement.