Posted on: August 17, 2020 02:00 PM

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Pizza Hut filed for bankruptcy and closing 300 dine in locations

NPC International, the parent company of Pizza Hut filed for bankruptcy in July and as part of the agreement, on Monday, 300 locations will be closed. That's 25% franchise locations. Locations will be announced in the coming weeks. With over $1 billion in debts, labor and food costs rising, the parent company opted to cut more locations in the coming weeks. The 300 locations are under performing selected by their data from revenue to expenses. The employees will be shifted to other locations. NPC also owns 6,500 franchise of Wendy's, the burger chain.