Lloyds to cut hundreds of UK jobs as it revives restructuring plans



a green sign hanging off the side of a building: Photograph: Will Oliver/EPA


© Provided by The Guardian
Photograph: Will Oliver/EPA

More than 1,200 staff at restaurant chain Pizza Hut and high street lender Lloyds Banking Group are facing redundancy, adding to a torrent of job cuts announced amid the pandemic.

Pizza Hut is considering closing up to 29 of its 244 UK outlets with the potential loss of 450 jobs.

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

The deal does not affect the Pizza Hut delivery business, which is separately owned.

High street lockdowns, social distancing rules and fears of the virus have hit trade at restaurant groups that were struggling even before lockdown restrictions, forcing them to make cutbacks.

The planned closures and redundancies follow similar moves at fellow Italian specialists Pizza Express and

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