Yes, according to CNN, 300 Pizza Huts in the United States plan to close permanently because Pizza Hut parent company Yum! NPC International, the largest franchisee in the United States, is facing bankruptcy.

It is reported that as many as 300 Pizza Hut restaurants will be permanently closed this time. Pizza Hut said on Monday that the performance of these 300 stores was "significantly inferior" compared with other stores. But affected employees will be helped to find jobs at other nearby Pizza Hut stores.

NPC International filed for bankruptcy protection in July and announced on Monday local time that it had reached an agreement with Yum! Brands, the owner of Pizza Hut, to close about a quarter of its restaurants and sell the remaining branches. Specific restaurants and times have not yet been determined.

Extended information:

Pizza Hut stores in the Chinese market will not be affected

Yum China responded that despite the challenges brought by the new crown epidemic, the company is optimistic about China For its long-term development, the goal of opening 800-850 new stores in 2020 remains unchanged.

A few days ago, Yum China opened its 10,000th store in Boao, Hainan. Yum China CEO Tracy Wat said that in the future, Yum China will continue to invest in key growth opportunities, including new store expansion, store renovation, digitalization, supply chain and technology capabilities, etc.

According to data, Yum China was independently listed on the New York Stock Exchange on November 1, 2016 after being spun off from its parent company, Yum! At present, Yum China has the exclusive operation and authorization rights to operate three brands, KFC, Pizza Hut and Taco Bell, in the Chinese market, as well as Dongfang Jibai, Little Sheep, Huang Jihuang and COFFii & JOY chain restaurant brands.

Strait Net - What’s going on with the plan to permanently close 300 Pizza Hut stores in the United States?