The global economic crisis has now hit Pizza Hut, one of the world's largest pizza chains. The franchise arm of the famous fast-food chain Pizza Hut, which also operates in Turkey, is preparing to sell its stores to pay off its debts.
EYM Pizza LP, a Pizza Hut franchisee that filed for bankruptcy in July, is selling all 127 of its stores in Illinois, Indiana, Georgia, South Carolina, and Wisconsin as part of a financial restructuring process.
EYM has engaged M&A advisory and brokerage firm National Franchise Sales to facilitate the sale, including assistance in the asset recovery process to maximize creditor recovery. Two creditors were listed in EYM's bankruptcy filing.
BRANCHES WILL REMAIN CLOSED UNTIL THEY FIND NEW OWNERS
In August, EYM Pizza's sister company, EYM Chicken, abruptly closed approximately 25 KFC restaurants in various markets across Illinois, Indiana, and Wisconsin. Both are owned by the EYM Group, which also franchises Denny's and Panera locations. These KFC stores will remain closed until the branches find new owners.
News Source: 12punto
