Restaurant chain, with 5,700 staff, still hopeful of reopening most of its 244 UK branches
The restaurant chain Pizza Hut is considering restructuring its debts in an insolvency agreement that could involve job losses.
The UK company has hired turnaround specialists Alvarez & Marsal to examine options for the business that could include a company voluntary arrangement (CVA), a deal with creditors to reduce debts, often including rent reduction.
The coronavirus lockdown has prompted some of the UK’s most prominent companies to announce large-scale job losses. The aviation, automotive and retail sectors have been among the worst hit, as businesses adjust to dramatically reduced revenue projections.
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