Pizza Hut franchisee files for bankruptcy
Pizza may not be the recession proof food we originally thought… There is no doubt that we haven’t slowed down in pizza purchases (not like in other business venues), but with so many out there, are the owners just get a trickle of the profits?
One of Pizza Hut’s largest franchisees, with six restaurants in Kentucky and dozens of others in Ohio and West Virginia, has filed for Chapter 11 bankruptcy protection for a second time.Minimum-wage increases, a rise in the cost of ingredients and unfavorable lease terms were some of the factors in its negative operating results, the Pizza Hut franchisee said in papers filed late Wednesday with the U.S. Bankruptcy Court in Wilmington, Del.
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