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NPC International Inc., which owns Pizza Hut and Wendy’s franchise locations, filed for Chapter 11 bankruptcy–and now our hundreds of our favorite fast food stops are at risk of closing!
The company just struck a deal with Yum! Brands to close their Pizza Hut restaurants--could their 400 Wendy's locations across the U.S. be next? Here's everything we know so far:
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$800 million in debt, NPC International Inc. filed for bankruptcy on July 1 of this year. The company, which opened its very first Pizza Hut in 1962, missed interest payments on its debt earlier this year. Aka, the writing has been on the wall.
NCP and Yum! recently agreed to permanently close 300 underperforming Pizza Hut restaurants as part of the deal--and now the company's Wendy's stops hang in the balance.
"We have continued to work with NPC and its lenders to optimize NPC’s Pizza Hut restaurant footprint and strengthen the portfolio for the future, and today’s joint agreement to close up to 300 NPC Pizza Hut restaurants is an important step toward a healthier business," Pizza Hut said at the time.
READ MORE: Wendy's Just Made This Huge Change To Its Menu & People Are Freaking Out!
It's not all bad news, however; fans of the chicken sandwich wars will be thrilled to learn that Wendy's introduced a brand-new spicy chicken sandwich to its menu this week. The "Spicy Crispy Chicken Sandwich" is a part of the "4 for $4" budget menu.
