The owners of Pizza Hut today agreed to cut rents at some branches, as part of an insolvency process known as a Company Voluntary Agreement (CVA).
While this prevented 215 Pizza Hut restaurants from closing – and saved 5,000 jobs – unfortunately the Royal Parade restaurant was not saved, nor the jobs of the people who work there.
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A spokesperson for Pizza Hut said, “We are delighted to have reached such a constructive position in partnership with our owners and creditors.
“We appreciate the support of everyone involved and this result provides us with a strong platform to secure the long-term future of the company, including over 5,000 jobs and over 200 restaurants.
“Our goal now is to support all of our team members and continue to provide a COVID-free dining experience to our customers. ”
Earlier this month, Pizza Hut management said the chain had pitched CVA’s proposals because “sales are not expected to fully rebound until 2021,” despite a quick and safe reopening of the sites.
The full list of Pizza Hut restaurants is expected to close after today’s CVA update:
- Basingstoke Commercial Park
- Brighton city center
- Bury St Edmunds
- Cambridge, rue Regent
- Cardiff, Culverhouse Cross
- Chelmsford, rue Moulsham
- Croydon, north end
- Glasgow, Great Western Retail Park
- Huddersfield, rue John William
- Leicester, Haymarket
- Londres, Leyton Mill
- Londres, Stratford
- Plymouth Royal Parade
- Sheffield, High Street
- Sheffield, chemin Penistone
- Thornton Cleveleys