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Pizza Hut to close 68 UK restaurants, putting up to 1,200 jobs at risk

1 day ago
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Pizza Hut is to shut 68 of its restaurants, putting as many as 1,200 jobs at risk, after the company behind its UK venues fell into administration,DC London Pie, which owned the UK Pizza Hut franchise, appointed administrators from FTI on Monday,Eleven delivery-only sites will also close,The US hospitality company Yum! Brands, which owns the global Pizza Hut brand as well as KFC and Taco Bell, said it had bought the remainder of the UK restaurant operation in a pre-pack administration deal,The deal will save 64 Pizza Hut sites in the UK and secure the future of 1,277 workers, the company said.

Those sites will be owned directly by Yum.The closures come only nine months after the purchase of the UK Pizza Hut franchise by Directional Capital, a US private equity firm that already operated Pizza Hut restaurants in Sweden and Denmark.Directional claims to manage more than $5bn (£3.7bn) in assets, with a focus on mid-market companies that need to raise cash.Pizza Hut opened its first UK restaurant in London’s Islington in 1973.

Staff numbers at the company rose to more than 14,000 in 1999 and it counted nearly 700 locations by 2006.However, it has struggled in recent years as casual dining chains have faced stiff competition to attract hard-pressed consumers suffering the effects of inflation on their disposable incomes.Pizza Hut survived the Covid pandemic lockdowns – albeit while closing 29 branches – only to be hit by higher costs such as rising energy bills as well as increased taxes such as the national insurance hike introduced by the Labour government in the 2024 budget.Last year Pizza Hut faced criticism for a promotion that offered customers “free spins” at online casinos with their takeaway.It has also faced scrutiny for a previous “cheeseburger pizza” that contained 2,880 calories, more than the recommended daily intake for an adult man.

HM Revenue and Customs filed a winding-up petition against DC London Pie on 11 September – a move generally made by the tax authority when a company has been unable to pay its tax bill because of financial difficulties,Directional bought the business from Pizza Hut UK’s previous management, led by the chief executive, Jens Hofma, and the investor Pricoa (now known as PGIM Private Capital), who had acquired it for a reported £100m in 2018,It was previously owned by Rutland Partners, yet another private equity firm,Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionNicolas Burquier, the managing director of Pizza Hut Europe and Canada, said: “This targeted acquisition aims to safeguard our guest experience and protect jobs where possible,Our immediate priority is operational continuity at the acquired locations and supporting colleagues through the transition.

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Champagne, celebs and artefacts: British Museum hosts first lavish ‘pink ball’ fundraiser

There will be champagne, of course, and dancing, fine Indian food served alongside the Parthenon marbles and cocktails mixed in front of the Renaissance treasures of the Waddesdon bequest. And everywhere – from the lights illuminating the Greek revival architecture, to the carpet on which guests arrive, to the glamorous outfits they are requested to wear – a very particular shade of pink.When the British Museum throws open its doors on Saturday evening for its first “pink ball”, it will not only be hosting an enormous and lavish party, but also inaugurating what its director, Nicholas Cullinan, has called a “flagship national event” that he hopes will become as important to his institution’s finances as it will to the London elite’s social calendar.Eight hundred invited guests have each paid £2,000 to party alongside some of the world’s most sensational artefacts and a roll call of bigwigs from the worlds of fashion, art and culture: Naomi Campbell and Alexa Chung, Miuccia Prada and Manolo Blahnik, Sir Steve McQueen and Sir Grayson Perry and Dame Kristin Scott Thomas.As well as glitz, however, there will be brass

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My cultural awakening: ‘The Specials helped me to stop fixating on death’

My anxious disposition means I think about death a lot. But a cluster of people I loved dying in 2023, and most of them unexpectedly and within a few months of each other, was enough to shake my nervous system up pretty significantly. Five funerals is too many. The first was my nan: she was the family matriarch. The oldest person in the family, so there was a level of acceptance among the sadness

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From After the Hunt to the Last Dinner Party: your complete entertainment guide to the week ahead

After the HuntOut nowJulia Roberts stars in the latest from Challengers director Luca Guadagnino: a cancel-culture thriller set in the aftermath of an accusation of sexual assault on a college campus. She plays a philosophy professor at Yale, whose colleague Hank (Andrew Garfield) claims he is innocent of the charges against him.FrankensteinOut nowYears in the making, decades in the dreaming, Guillermo del Toro’s splendidly visceral take on one of literature’s true greats, starring Oscar Isaac as the eponymous scientist and an unrecognisable Jacob Elordi, asthe Creature, is long and messy and brilliant. It deserves to be seen on the big screen (though a Netflix release is following hot on the heels of this cinema release if you do miss it).SunlightOut nowComedian Nina Conti makes her directing debut with a deliciously dark road trip comedy that isn’t for the faint of heart

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The Guide #213: Should we mourn the demise of TV channels?

For seasoned tea-leaf readers of the future of TV in the UK, two stories will have stood out this week, swirling around at the bottom of their cups. There was the news that MTV is shutting down its music channels – sad for those of us who misspent their youth watching them, though hardly surprising either, given MTV’s decades-long shift away from music and towards rolling repeats of Teen Mom and shows about tattooists. And there was a media piece in the Guardian about the demise of British TV’s once-gold plated 9pm slot, which for the first time last month failed to achieve a rating of 1m or more among any of the major broadcasters.That second story was a little surprising. Overnight viewing figures are in constant decline in the streaming age, but even by those standards, not one solitary rating over 1m is eye-catching

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Jimmy Kimmel on the Republicans: ‘So much greed and hypocrisy and duplicity’

Late-night hosts spoke about Donald Trump’s attempts to transform the White House and how he was “cashing in bigly” on being president.On Jimmy Kimmel Live! the host spoke about Trump’s “goon squad” indicting his former national security adviser John Bolton while the president was still “brazenly lying about the economy”.This week Trump also met with Vladimir Putin, something he bragged about on social media before claiming that he is the only president to have ended a war. “All the other wars ended mysteriously by themselves,” Kimmel said.Trump also “still has his eye on the ballroom” hosting an event for investors willing to help fund a renovation

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Laurence Fox’s libel claim over racism accusations to go to retrial

Laurence Fox’s libel claim after he was called a racist on social media will go to a retrial, the court of appeal has ruled.The former actor was successfully sued by Simon Blake, who is now the chief executive of Stonewall, and the drag artist Crystal over a row on the social media platform Twitter, now called X.Fox, 47, called Blake and the former RuPaul’s Drag Race contestant, whose real name is Colin Seymour, “paedophiles” in an exchange about a decision by Sainsbury’s to mark Black History Month in October 2020.Fox called for a boycott of the supermarket and was called “a racist” by the men, as well as by the broadcaster Nicola Thorp, before he responded with the “paedophile” tweets which led to the initial libel claims.In two judgments in 2024, Mrs Justice Collins Rice ruled in favour of Blake and Seymour, and said Fox should pay them £90,000 each in damages

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Amazon says Web Services are recovering after outage hits millions of users – as it happened

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Labour’s clean energy plan needs a revamp: get real on costs and ignore the artificial deadline | Nils Pratley

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Pizza Hut to close 68 UK restaurants, putting up to 1,200 jobs at risk

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SlimFast’s European arm sold after struggling to compete with weight-loss drugs

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Secret Cinema company is bought by Hollywood power broker

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China’s economic growth slows amid Trump tariff war and property woes

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