Largest US Pizza Hut Franchisee Files for Bankruptcy On July 1, NPC International Inc.
Sought Chapter 11 bankruptcy protection in Texas.
The company is the largest franchisee of Pizza Hut in the United States, operating over 1,225 of the country’s 7,100 restaurants.
NPC also operates more than 385 of the roughly 6,500 Wendy’s stores in the United States.
According to ‘Bloomberg,’ the company’s bankruptcy claim is due to competitive pressure in the industry that has increased because of COVID-19.
They reportedly have $903 million in debt but have already pre-negotiated a restructuring agreement with lenders.
NPC’s Pizza Hut and Wendy’s locations will keep operating as they work to turn business around.
According to NPC’s website, the company employs nearly 40,000 people in 27 U.S. states.
In their filing, NPC said they intend to sell a number of their restaurants in order to “evaluate and optimize [their] restaurant portfolio.”
