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Pizza Hut collapsed into administration today (October 20), as 68 of the popular chain's restaurants have been closed. As many as 741 jobs could also be made redundant. Pizza Hut is owned by Yum! Brands, with FTI Consulting being appointed as administrators today. A pre-pack administration allows the sale of a business or its assets to be arranged before the formal administration process kicks off. Pizza Hut's takeaway outlets remain unaffected by today's announcement. A spokesperson for the pizza chain told The Sun: "Today we announce the acquisition of the Pizza Hut dine-in operations through a pre-packaged administration, after FTI was announced today as administrators of DC London Pie Limited, a franchisee of Pizza Hut dine-in restaurants. "We are pleased to secure the continuation of 64 sites to safeguard our guest experience and protect the associated jobs. Approximately 2,259 team members will transfer to the new Yum! equity business, including above-restaurant leaders and support teams." Directional Capital assumed control of Pizza Hut's UK restaurants in January 2025 after the previous operator Heart with Smart Limited went under with nearly £40 million in debt. Last month HMRC issued a winding-up petition against DC London Pie Limited, reports the Sun. This occurs when a company owes more than £750 in unpaid tax and looks past all attempts to settle the debt. This means the company could be forced to close and sell its assets to pay what it owes. This is a breaking news story and is being constantly updated. Please refresh the page regularly with the latest news, pictures and videos. You can also get email updates on the day’s biggest stories straight to your inbox by signing up for our newsletters. Get all the very best headlines, pictures, opinion and video on the stories that matter to you by following Daily Star every time you see our name. Follow Daily Star on Android - CLICK HERE Follow Daily Star on Apple - CLICK HERE Follow Daily Star on Snapchat - CLICK HERE You can also sign up for Twitter alerts for breaking news by following @starbreaksnews and follow us @dailystar for all the latest updates. Keep up-to-date with your must-see news, features, videos and pictures throughout the day by following us on Facebook at facebook.com/thedailystar.
