Operations
Pizza Hut franchisee could close more than 140 stores
July 24, 2024
A large Pizza Hut franchisee has filed for Chapter 11 bankruptcy amid a financial dispute with the brand's parent company and EYM Group. EYM Group operates more than 140 Pizza Hut restaurants across five states, according to a Daily Mail report.
According to the report, EYM owes Pizza Hut more than $2 million and $21 million to Manufacturers Bank. The franchisee is being sued by Pizza Hut but blames the parent company for its financial woes, saying that the chain hasn't updated its menus or app to help it compete in the market.
In response, EYM has sued Pizza Hut.
EYM is headed by Eduardo Diaz, former McDonald's Mexico president. The franchisee closed 15 Pizza Hut locations in Ohio and Indiana in June.
Pizza Hut is owned by Yum Brands Inc.
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