NPC Approved to Sell Pizza Hut, Wendy’s Outlets for $800 Million

Restaurant franchisee NPC International Inc. won court approval to sell more than 1,300 Pizza Hut and Wendy’s restaurants for about $800 million, six months after the coronavirus pandemic pushed the company into bankruptcy.

Under two deals approved Wednesday by U.S. Bankruptcy Judge David Jones, Flynn Restaurant Group will take over 951 Pizza Hut locations and nearly 200 Wendy’s stores, according to court filings. Wendy’s Co. will take over another 200 of its namesake restaurants and then turn them over to a group of its franchisees.

The agreements won the support of Pizza Hut and Wendy’s, which were involved ...