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Pizza Hut May Fight Bankruptcy Plan of Main Franchisee: Lawyer

July 2, 2020, 10:19 PM

Yum Brands’ Pizza Hut chain may be forced to fight the reorganization plan of its biggest franchisee should the two sides fail to come to a deal in the coming weeks, a lawyer for Pizza Hut said during a bankruptcy court hearing Thursday.

  • NPC International filed bankruptcy Wednesday with a plan to give senior lenders equity in exchange for cutting debt; part of that plan requires an agreement with Pizza Hut by July 24 on how to restructure NPC’s 1,200 pizza stores
  • Without a deal, NPC would try to sell some of its Pizza Hut locations, a move that ...