Pizza Hut and Wendy’s Operator NPC Files for Bankruptcy
- NPC can keep operating while it works on turnaround plan
- Restaurant operator will look to sell Wendy’s franchises
Photographer: Patrick T. Fallon/Bloomberg
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NPC International Inc., the largest franchisee of Pizza Hut restaurants in the U.S., filed for bankruptcy after coronavirus-related shutdowns added to competitive pressures in the restaurant industry.
The closely held company sought Chapter 11 protection in the Southern District of Texas court on Wednesday. NPC, founded in 1962, operates 1,227 Pizza Hut and 393 Wendy’s stores across the U.S., according to court papers.