Mon, 13 Feb 2012 | BUSINESS SALE
Yum Brands, the US owner of Pizza Hut UK, has appointed PwC to sell the 380 Pizza Hut-owned restaurants. The sale does not include the 320 delivery stations.
The new owner, who will also serve as the master franchisee, will be faced with the task of what to do with Pizza Hut UK’s 100 under performing restaurants. Having attracted the interest of turnaround specialist RCapital, there are rumours that it could be put through a pre-pack administration.
Yum Brands wants a new owner to focus on expanding and refurbishing Pizza Hut UK. The new operator of the pizza chain will be required to pay a royalty fee to Yum for use of the brand and to have access to its system’s information.
The latest accounts show a 2 per cent fall in sales at Pizza Hut UK for the fourth quarter, while revenues at KFC had risen by 6 per cent.
Yum Brands also operates the Taco Bell and KFC chains across the world, from a total of almost 38,000 restaurants in more than 110 countries.
Yum Brands gained full control of Pizza Hut UK when it bought Whitbread’s 50 per cent holding for £112 million in 2006.
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