Pizza Hut’s UK restaurant business has plunged into a debt crisis threatening more than 150 branches.
The US giant’s biggest British franchise, with more than 4,000 workers in 152 outlets, is locked in negotiations to refinance tens of millions of pounds due to be repaid to lenders in April.
Auditor PwC warned in accounts that Pizza Hut UK faced a “material uncertainty which may cast significant doubt about the… ability to continue as a going concern”.
Pizza Hut must repay £31m of its £73m debt by April 2024.
