Pizza Hut to close 29 restaurants putting 450 jobs at risk



a sign on the side of a building: Photograph: Mike Egerton/PA


© Provided by The Guardian
Photograph: Mike Egerton/PA

Pizza Hut has confirmed a list of 29 sites up for closure as part of a rescue deal which could lead to the loss of 450 jobs.

Sites in Cambridge, Leicester, Sheffield and Stratford, east London, are all at risk as the group considers cutting about 10% of its 244 outlets.

The main UK franchisee of the US-owned business is also seeking to cut rents, asking landlords to base payment demands on turnover at each outlet, under a restructuring deal called a company voluntary arrangement (CVA).

The CVA, which was confirmed on Friday, does not affect the Pizza Hut delivery business, which is separately owned. Landlords and other creditors will have to approve the deal in the coming weeks.

Pizza Hut Restaurants said: “We are doing everything we can to redeploy our team members from our Pizza Hut Restaurants locations that are

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Separately, Pizza Hut is planning to close 29 restaurants with the loss of 450 jobs.

The restaurant chain said it was part of a rescue deal “to mitigate the financial impact of Covid-19”.

A raft of businesses have announced jobs cuts and closures as consumer demand has dried up during the crisis.

British employers planned more than 300,000 redundancies in June and July alone, as the country slipped into its sharpest recession on record.

Lloyds, which has about 65,000 employees, had warned of cuts in January but put them hold until the autumn due to the crisis.

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a close up of a sign: Pizza Hut Restaurants employs more than 5,000 people across Britain


© Getty
Pizza Hut Restaurants employs more than 5,000 people across Britain

Sky News has learnt that Pizza Hut Restaurants, which employs more than 5,000 people in Britain, is to propose switching to a turnover rent model, which would see it paying landlords based on revenue levels in each of its 245 outlets.

It later confirmed an intention to shut 29 of its UK sites, placing around 450 jobs at risk.

The proposals would be implemented through a company voluntary arrangement, making Pizza Hut Restaurants the latest in a string of big hospitality names to turn to insolvency mechanisms to reorient their business during the coronavirus pandemic.



a sign on the side of a building: Pizza Express is closing dozens of sites


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Pizza Express is closing dozens of sites

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450 Pizza Hut jobs at risk as chain axes 29 restaurants



a close up of a sign: The sign at a Pizza Hut location, which is owned by Yum Brands Inc, is pictured ahead of their company results in Pasadena, California U.S., July 11, 2016. REUTERS/Mario Anzuoni


The sign at a Pizza Hut location, which is owned by Yum Brands Inc, is pictured ahead of their company results in Pasadena, California U.S., July 11, 2016. REUTERS/Mario Anzuoni

Pizza Hut has announced plans to close more than one in 10 of its restaurants in Britain, putting around 450 jobs at risk.

The pizza chain confirmed 29 branches will shut across the UK as part of a restructuring deal, in the latest in a wave of closures and job losses to hit UK high streets since the coronavirus struck.

The company said it is negotiating with lenders over a company voluntary arrangement (CVA), an insolvency procedure often used to avoid putting a company into full administration and re-negotiate debt repayments.

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