Fri, 07 Oct 2011 | BUSINESS SALE
American restaurant chain giant, Yum! is looking to offload the UK operations of Pizza Hut, with the intention of selling it to a "master franchisee".
The company - which also owns fast-food chains KFC and Taco Bell, among others - is hoping to sell the UK chain to a single buyer, who could then re-franchise it to others. There are currently 700 branches of Pizza Hut in the UK, but the most recent quarterly results for Yum! have shown that it took a £50 million impairment charge on the UK Pizza Hut business.
The move to sell up Pizza Hut has come in the face of growing pressure from other rival chains, including Domino's and more upmarket establishments, like Pizza Express and Prezzo. Yum! took full control of Pizza Hut five years ago, after paying £112 million for the 50 per cent of the business that was owned by Whitbread.
A Yum! spokesman admitted that the company had "fallen behind competitors", but said that this matter had been addressed by a "re-evaluation" of the brand.
Pizza Hut, which first came to the UK in 1973, still serves some 55 million customers every year and employs some 16,500 staff.
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