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More than 1,200 jobs have been lost following the collapse of DC London Pie, a major Pizza Hut franchise operator, which has gone into administration.
FTI Consulting was appointed as administrator of the company, which operated Pizza Hut dine-in restaurants across the UK, delivery outlets and held the master franchise for dine-in operations in the Republic of Ireland.
Following their appointment, joint administrators Matthew Boyd Callaghan, Lindsay Kate Hallam and Christopher Jon Bennett confirmed the immediate closure of 68 dine-in restaurants and 11 delivery outlets. The move has resulted in 1,210 redundancies.
In a parallel transaction, 64 Pizza Hut dine-in sites and the Republic of Ireland master franchise were sold to Pizza Hut UK through a pre-packaged deal, safeguarding 1,276 jobs.
FTI Consulting said DC London Pie had struggled with “challenging trading conditions” and rising costs, compounded by “material cash flow pressures” linked to tax-related obligations.
Matt Callaghan, joint administrator, said: “This transaction provides a stable platform for one of the UK’s best-known dine-in brands, securing the continuation of 64 Pizza Hut sites and importantly preserves 1,276 jobs. The joint administrators will continue to work with employees who have unfortunately been made redundant, to ensure they get the support needed."
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