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NPC May Close 300 Pizza Huts and Seek to Sell All the Others

Aug. 17, 2020, 3:15 PM

NPC International Inc. reaches agreement with Pizza Hut to close as many as 300 restaurants as part of its Chapter 11 bankruptcy, according to a company statement.

  • NPC, whose Pizza Hut restaurants make up 20% of the chain’s base in the U.S., will begin trying to sell the pizza business, per statement
    • Co. has not yet determined which restaurants will close
    • NPC owns 1,227 Pizza Hut locations
    • Yum! Brands is the parent company of Pizza Hut, with 6,700 restaurants nationwide.
    • NPC employs more than 23,000; NPC and Pizza Hut will seek to reallocate employees from closed units
  • Co. says ...