Pizza Hut and Wendy's Operator Files for Chapter 11 Bankruptcy
Pizza Hut’s largest franchisee has admitted to financial struggles and has filed for bankruptcy. NPC International, the operator of 1,200 Pizza Huts and nearly 400 Wendy’s restaurants, has filed for Chapter 11 bankruptcy because of the COVID-19 pandemic, rising food and labor cost and a massive $1 billion debt. NPC believes that filing will strengthen the overall health and performance of the entire system for the long term. The company is the latest U.S company to file for bankruptcy during the pandemic. Chuck E Cheese’s parent company, GNC, 24 Hour Fitness and several others have filed within the last two months.