Pizza Hut launches CVA with 450 jobs at risk

09 September 2020 by
Pizza Hut launches CVA with 450 jobs at risk

Pizza Hut has proposed a Company Voluntary Agreement (CVA) that would see the closure of 29 restaurants and 450 job losses.

The group has said the CVA will help it to "mitigate the financial impact of Covid-19", with sales not expected to fully bounce back until well into 2021.

A spokesperson said: "We are committed to doing the right thing, and in order to secure as many jobs as possible and continue serving our communities, we are working to reach an agreement with our creditors. While we are likely to see 29 hut closures and 450 job losses, any measures we take aim to protect about 5,000 jobs at our remaining 215 restaurants, as well as the longevity of the business.

"We understand this is a difficult time for everyone involved. We appreciate the support of our business partners and are doing everything we can to help our team members during this process, including speaking with those affected by the consultation.

"This does not affect locations, jobs or operations at Pizza Hut Delivery, any of Pizza Hut Delivery's other franchises or any international Pizza Hut or Yum! operations. As a group, we look forward creating a future where we continue sharing pizza with our communities."

Picture: Shutterstock

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking