Pizza Hut, Wendy's Franchisee NPC Intl Expected To File For Bankruptcy

pizzahut june30 lt

NPC International Inc., one of the largest restaurant franchisees in the U.S., is reportedly planning to file for bankruptcy.

NPC International owns over 1,200 of Yum Brands' Pizza Hut restaurants and 385 Wendy's Co. outlets.

The company is expected to file for chapter 11 protection on Tuesday, according to people familiar with the company's finances.

The company missed interest payments on its nearly $800 million in loans on January 31. NPC, which has $1 billion in debt, started considering about a possible bankruptcy filing with its lenders at that time.

The coronavirus pandemic has forced several restaurant chains to file for bankruptcy, including the parent company to Chuck E. Cheese and the U.S. division of bakery chain Le Pain Quotidien.

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