Danni Hewson, head of financial analysis at AJ Bell, said: “There was forward momentum for Yum! Brands, which has taken the UK dine-in Pizza Hut business back under its wing after previous owner DC London Pie fell into administration.
“Though its restaurants footprint will be significantly decreased, with 68 outlets set to shut their doors. Fewer than half of the restaurants will continue to operate following a pre-pack administration, likely with the loss of over a thousand jobs.
“DC London Pie had rescued Pizza Hut’s UK operations from insolvency less than a year ago, but making a success of a big-name casual dining businesses is a tough job and one which would have been made harder by increased labour costs and ongoing consumer caution.
“Taking back the brand looks a smart move by Yum! Brands as it has decades of data about how pizza lovers like to consume and exactly what factors need to coalesce to make a location a success.”
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