Pizza Hut may close 127 restaurants after owner puts them up for sale --[Reported by Umva mag]

EYM Pizza LP is selling all 127 of its Pizza Hut stores in Illinois, Indiana, Georgia, South Carolina and Wisconsin.

Oct 3, 2024 - 00:12

Pizza Hut may close 127 restaurants after owner puts them up for sale --[Reported by Umva mag]

A Pizza Hut store in an industrial area — EYM Pizza LP is selling 127 of its stores in Illinois, Indiana, Georgia, South Carolina and Wisconsin after filing for bankruptcy (Picture: Getty Images)

A bankrupt Pizza Hut franchise is selling all 127 of its stores across five US states, in the latest wave of possible closures for the popular fast food chain.

EYM Pizza L.P. is selling its stores in Illinois, Indiana, Georgia, South Carolina and Wisconsin as part of its plan to restructure.

It comes after EYM Pizza shuttered all 15 of its restaurants in Indiana.

The company filed for Chapter 11 bankruptcy in the Eastern District of Texas in July.

A US map has Illinois, Indiana, Georgia, South Carolina and Wisconsin highlighted to indicate the states where EYM Pizza L.P. has Pizza Hut restaurants — EYM Pizza L.P. is selling its 127 Pizza Hut restaurants across five US states where they are located (Picture: EYM Pizza L.P.)

Pizza Hut sued EYM Pizza for not meeting deadlines to pay royalties despite being granted a forbearance period last year that ended in February of thisyear.

EYM Pizza has engaged National Franchise Sales to manage the sale of its Pizza Hut empire.

‘National Franchise Sales is dedicated to navigating this challenging period with EYM Pizza L.P. and its affiliates,’ stated Alan Gallup, who is lead advisor for the NFS asset recovery team.

‘Our goal is to ensure a smooth transition and maximize value for all parties impacted by this process.’

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