Pizza Hut's biggest Franchise group NPC International files for bankruptcy

Breaking news. 

The coronavirus damage and other financial issues continue to kill businesses and this time it's affecting Pizza Hut's (YUM) biggest franchise group NPC international. NPC international has filed for bankruptcy, the group owns 1,200 Pizza Huts and about 400 Wendy's (WEN)   restaurants. The damages from coronavirus pandemic and the slowing U.S. sales for pizza hut and NPC has put the company in about $ 1 billion debt.

As a result, NPC International is seeking chapter 11 bankruptcy protection so it could continue conduction its businesses while trying to restructure its debts obligations. 

“While NPC’s Chapter 11 bankruptcy filing was expected, we view it as an opportunity to create a better future for NPC’s Pizza Hut restaurants,” a Pizza Hut spokesperson said in a statement. “As NPC works through this process, we support an outcome resulting in an organization with a lower, more sustainable level of debt, ownership focus on operational excellence and a greater level of restaurant investment.” - MSNBC

NPC International is one of the largest restaurant companies in America.

Brands

• Wendy's
• Pizza Hut

About NPC International.