Pizza Hut Operator Cancels Bankruptcy Auctions for Franchises

Fast-food franchisee NPC International Inc. canceled an auction for its Wendy’s Co. and Pizza Hut restaurants, a move that may make it easier for Flynn Restaurant Group to buy the company out of bankruptcy.

• In a court filing in Houston on Sunday, NPC called off auctions designed to split the company’s burger and pizza operations and sell them off separately to raise money to pay creditors
• Ending the auctions means Flynn may be the only offer NPC is still considering; had the company proceeded, Flynn would have faced competition
• Flynn has offered to buy the entire company in a deal...