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Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by 8DonCo Wed Jul 01, 2020 5:38 am
Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
NPC International, the largest U.S. franchisee of Yum Brands’ Pizza Hut, filed for Chapter 11 bankruptcy on Wednesday.
The company operates more than 1,200 Pizza Huts and nearly 400 Wendy’s restaurants.
In contrast to most of the restaurant industry, Pizza Hut is one of the rare companies to report same-store sales growth in April and May, thanks to higher digital and delivery sales. But the coronavirus pandemic follows years of slumping U.S. sales for Pizza Hut, and NPC has struggled with a debt burden of roughly $1 billion.
Seeking Chapter 11 protection means that NPC can continue to operate while it tries to turn business around. Pizza Hut said in a statement that NPC’s locations of the pizza chain continue to serve food. The franchisee pre-negotiated a restructuring agreement with most of its lenders.
“While NPC’s Chapter 11 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.”
In 2019, NPC saw its debt slide further and further into junk territory after credit downgrades from S&P Global Ratings and Moody’s. Both ratings agencies downgraded the franchisee’s debt in February after it did not make interest payments due to lenders on Jan. 31.
In a note published Tuesday before the bankruptcy filing, Cowen analyst Andrew Charles estimated that Yum could lose up to $54.2 million of annualized royalty revenue and 13 cents of annualized earnings per share if NPC stops paying royalty fees. Pizza Hut and Wendy’s are NPC’s largest creditors, according to its bankruptcy filing.
NPC opened its first Pizza Hut location in 1962 and went public in 1984. The franchisee went private again in 2001 and was owned by a series of private equity firms before being sold in 2018 to two family offices, Delaware Holdings and Eldridge Investment Holdings.
NPC joins a host of other companies that filed for bankruptcy during the pandemic, including Chuck E. Cheese’s parent company CEC Entertainment, rental car company Hertz and retailers J. Crew and J.C. Penney.
NPC International, the largest U.S. franchisee of Yum Brands’ Pizza Hut, filed for Chapter 11 bankruptcy on Wednesday.
The company operates more than 1,200 Pizza Huts and nearly 400 Wendy’s restaurants.
In contrast to most of the restaurant industry, Pizza Hut is one of the rare companies to report same-store sales growth in April and May, thanks to higher digital and delivery sales. But the coronavirus pandemic follows years of slumping U.S. sales for Pizza Hut, and NPC has struggled with a debt burden of roughly $1 billion.
Seeking Chapter 11 protection means that NPC can continue to operate while it tries to turn business around. Pizza Hut said in a statement that NPC’s locations of the pizza chain continue to serve food. The franchisee pre-negotiated a restructuring agreement with most of its lenders.
“While NPC’s Chapter 11 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.”
In 2019, NPC saw its debt slide further and further into junk territory after credit downgrades from S&P Global Ratings and Moody’s. Both ratings agencies downgraded the franchisee’s debt in February after it did not make interest payments due to lenders on Jan. 31.
In a note published Tuesday before the bankruptcy filing, Cowen analyst Andrew Charles estimated that Yum could lose up to $54.2 million of annualized royalty revenue and 13 cents of annualized earnings per share if NPC stops paying royalty fees. Pizza Hut and Wendy’s are NPC’s largest creditors, according to its bankruptcy filing.
NPC opened its first Pizza Hut location in 1962 and went public in 1984. The franchisee went private again in 2001 and was owned by a series of private equity firms before being sold in 2018 to two family offices, Delaware Holdings and Eldridge Investment Holdings.
NPC joins a host of other companies that filed for bankruptcy during the pandemic, including Chuck E. Cheese’s parent company CEC Entertainment, rental car company Hertz and retailers J. Crew and J.C. Penney.
_________________
8DonCo
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by TuTu Wed Jul 01, 2020 8:01 am
Pizza bay gio co' nhieu canh. tranh lam ...them vu. Co^ vi nen chac' tieu tang' tung` luon .
TuTu
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by EmKay Wed Jul 01, 2020 8:06 am
Tui thích pizza hut hơn cici, papajohn, marcon hay hideaway
$10/ large 3topings mà giờ cũng it ai mua
Tiếc huh
$10/ large 3topings mà giờ cũng it ai mua
Tiếc huh
_________________
Đất tốt nhờ giun
Người vui khoẻ ... vì đào đất kiếm trùn
EmKay
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by ga10 Wed Jul 01, 2020 8:25 am
I am sủrprised that they filed for bảnkruptcy. I always thought they were doing okay even during COVID people would still order pizzas delivery. I saw some Pizza Hut restaurants closing which makes sense because not as many people are eating pizzas in the restaurants. However I thought more people are ordering pizzas to eat at home now.
I did noticed a few years ago they stopped giving as good of deals on pizzas though so we stopped order as much as pizzas b4.
I did noticed a few years ago they stopped giving as good of deals on pizzas though so we stopped order as much as pizzas b4.
ga10
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by Tu* Khoai Wed Jul 01, 2020 12:41 pm
Pizza Hut bây giờ toàn là Ấn Độ làm chủ .. Mà cái đám Ấn Độ đó vừa kẹo vừa mắc nên quality của Pizza Hut xuống cấp trầm trọng thì bankrupt là đúng rồi . Bánh thì bớt cheese với sauce, topping thì lên giá, order online và delivery service thì tính thêm tiền .
Bây giờ ma mua cái large kéo tới lui cũng thành hơn $20 đô la .. Dẹp ..khỏi ăn .
Bây giờ ma mua cái large kéo tới lui cũng thành hơn $20 đô la .. Dẹp ..khỏi ăn .
_________________
LOCK CHUMP UP !
HEY CHUMP! YOU'RE FIRED
CHUMP AKA THE BIG LIE
Tu* Khoai
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by Rễ Sim Wed Jul 01, 2020 12:47 pm
bây giờ có quá nhiều công ty đóng cửa . Phải nói nước Mỹ kinh khủng thiệt! ... Làm ăn hàng tỷ hàng tỷ mà banh xác lúc nào không hay!! ..
_________________
Mõ nhọn đại ca
Rễ Sim
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by vietnam4all Wed Jul 01, 2020 1:29 pm
Facebook sao không banh xác cho tui nhờ?
vietnam4all
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by Newtexas Wed Jul 01, 2020 1:35 pm
vietnam4all wrote:Facebook sao không banh xác cho tui nhờ?
Fb mà đóng cửa..làm sao tìm lại đuoc người yêu cũ chứ ông..
_________________
Một ngày như mọi ngày..
Đi vào lại đi ra..
Newtexas
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by EmKay Wed Jul 01, 2020 1:51 pm
Newtexas wrote:vietnam4all wrote:Facebook sao không banh xác cho tui nhờ?
Fb mà đóng cửa..làm sao tìm lại đuoc người yêu cũ chứ ông..
Ông Vit có phone và address nhà bà í rồi Tẹc
_________________
Đất tốt nhờ giun
Người vui khoẻ ... vì đào đất kiếm trùn
EmKay
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by Newtexas Wed Jul 01, 2020 2:29 pm
EmKay wrote:Newtexas wrote:vietnam4all wrote:Facebook sao không banh xác cho tui nhờ?
Fb mà đóng cửa..làm sao tìm lại đuoc người yêu cũ chứ ông..
Ông Vit có phone và address nhà bà í rồi Tẹc
Ông Vit có đi cửa hậu cọ lun infos bà ko dzị Kay?? Nhở Cali bị bán cho Tàu ổng Tìm hỏng ra tui có thểqua bà since TB tui dzí bà sát nách mà ..
.._________________
Một ngày như mọi ngày..
Đi vào lại đi ra..
Newtexas
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by vietnam4all Wed Jul 01, 2020 2:43 pm
Newtexas wrote:EmKay wrote:Newtexas wrote:
Fb mà đóng cửa..làm sao tìm lại đuoc người yêu cũ chứ ông..
Ông Vit có phone và address nhà bà í rồi Tẹc
Ông Vit có đi cửa hậu cọ lun infos bà ko dzị Kay?? Nhở Cali bị bán cho Tàu ổng Tìm hỏng ra tui có thểqua bà since TB tui dzí bà sát nách mà ..
Tui cũng có giá lắm nghe...đừng làm như tui bị ế à
vietnam4all
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by beGUN Wed Jul 01, 2020 3:16 pm
I guess pizza is not as popular as it once wêre!
beGUN
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by ga10 Wed Jul 01, 2020 3:42 pm
beGUN wrote:I guess pizza is not as popular as it once wêre!
Nhiều khi người ta vào Costco mua 1 cái Large có $10 vs. Pizza Hut là giá $20??!!!!
ga10
Re: Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy
by Floridian Wed Jul 01, 2020 3:48 pm
Haven't had pizza hut in dozen of years. Don't care if it goes under
Floridian
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