Pizza Hut to shut 29 restaurants with hundreds of jobs at risk
PIZZA Hut has announced plans to shut 29 of its restaurants in a move that will put about 450 jobs at risk.
The restaurant chain currently has 244 restaurants in the UK including in Binnacle Way, Northarbour and in Hedge End.
It has said it is negotiating a company voluntary arrangement (CVA) restructuring deal after it faced ‘significant disruption’ from the pandemic.
The Pizza Hut Restaurants group said it has put forward the proposals as ‘sales are not expected to fully bounce back until well into 2021’ despite a quick and safe reopening of sites.
The measures aim to protect about 5,000 jobs across its remaining restaurants as well as the ‘longevity’ of the business, it said.
Pizza Hut has become the latest in a raft of restaurant chains to announce closures and job losses following the pandemic.
Rival Pizza Express confirmed on Monday that it will shut 73 restaurants with 1,100 job losses after its own CVA deal was approved by creditors.
Pizza Hut added that the move will not affect operations or jobs at Pizza Hut Delivery or related franchises.
A spokeswoman said: ‘We are committed to doing the right thing and, in order to secure as many jobs as possible and continue serving our communities, we are working to reach an agreement with our creditors.
‘We understand this is a difficult time for everyone involved.
‘We appreciate the support of our business partners and are doing everything we can to help our team members during this process, including speaking with those affected by the consultation.’