300 Pizza Hut stores closing permanently, could it not hold out? ?On August 18, 2020 Pizza Hut's parent company, Yum Group, filed for Chapter 11 bankruptcy protection, and the company's 300 Pizza Hut restaurants will face permanent closure. Pizza Hut this permanent closure of the stores is mostly due to the location of the stores and poor operations have a lot to do, of course, this is also and Pizza Hut's menu innovation decline, the lack of a clear long-term strategy, brand recognition decline has a lot to do, in fact, during this epidemic Pizza Hut's sales have a lot of growth, but the cost of epidemic prevention of the stores is too high, and then become a disadvantage, so this time, Yum Group decided to permanently closed stores.

Pizza Hut was founded in 1962, is the world's largest restaurant network of restaurant groups, but in recent years due to fierce competition from other brands of pizza, Pizza Hut has lost a lot of market share, store sales have been declining, carrying a huge debt of $ 1 billion, although in the epidemic during the Pizza Hut takeaway sales increased by 21%, but still can not restore the net profit continued to decline. This global trend of declining same-store sales is still unchanged,After permanently closing 300 stores, Yum also plans to sell 927 of its Pizza Hut stores.

While it is closing 300 stores abroad, Pizza Hut in China is not only unaffected, but also plans to open 800-850 new stores, ? However, Chinese netizens are not too optimistic about Pizza Hut, believing that the taste is average and the price-performance ratio is not high. With pizza brands such as Delta and Bang John's landing in the Chinese market, together with local brands, Pizza Hut's future in China is not very optimistic either.

In fact, Pizza Hut's poor sales performance has been a problem for a long time, and according to industry insiders, stores have been lifeless for 20 or 30 years. The bankruptcy filing was the result of massive debt, coupled with rising labor costs, and the temporary closure of many of its restaurants during the epidemic was also a big contributor to the losses.