Creditors and landlords at Pizza Hut, are due to close the vote on the chain’s company voluntary arrangement (CVA) restructuring plan on Monday.
The UK arm of the pizza chain will be the latest franchise to attempt to push through restaurant closures, with the deal also securing the company major rent cuts on its remaining sites.
If passed, the deal will result in the permanent closure of 29 of Pizza Hut UK’s 244 restaurants, putting around 450 jobs at risk, adding the chain to a long list of UK restaurant casualties.
Earlier this month, the Pizza Huts Restaurant Group, which runs the dine-in Pizza Hut franchise in the UK said COVID-19 had caused “significant disruption.”
Sales are not expected to “fully bounce back” until