1,300 locations of these popular fast food supposed rooms are sold
Bankruptcy Pizza Hut and the WENDY franchisee sell hundreds of restaurant sites.
NPC International, once one of the most important and efficient franchise companies in America,deposited for bankruptcy in 2020 with a $ 900 million debt. The largest operator of Pizza Hut Restaurants and Wendy'swas sold in Flynn Restaurant GroupAnother major operator, which will take a majority of about 1,300 facilities in bankruptcy of the two chains.
After months of negotiation, Judge David Jones of the Southern District of Texas gave the approval of a transaction that will see NPC to sell about 951 Hut Rentals in Pizza and nearly 200 restaurants in Wendy at theFlynn Restaurant Group, according toPymntes. Wendy's parent company will buy the remaining 200 restaurants, many of which would then be offered to a handful of pre-approved franchise owners. (In touch:McDonald's makes these 8 major upgrades.)
Negotiations have been reported earlier this month whenAn agreement has finally been reached Between Flynn Restaurant Group and Wendy's, both parties are fighting for the right to purchase the 400 Wendy locations in question. The channel wanted to acquire all the places and distribute them to its franchiseesSo that locations stay the restaurants of Wendy.
The sale of $ 800 million comes after a stimulating year for the country's restaurants, during whichDinner-in Pizza Hut Sites have been struck particularly strong. Some 300 pizza hut restaurants were closed permanently last year as NPCs, which operated one fifth of all the pitches of the US pizza hut, entered bankruptcy.
Other fast food and fast food chainshit hard during the pandemic includedMetro,Tuesday Ruby,Chuck E. Cheese,Pizza California Cuisine, and much more. Some channels, such asSubplantation, ended up coming out entirely from the business.
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