Pizza Hut in Greece has decided to close down all its 16 stores in the country considering that the activity of the chain is no longer viable. 180 people lose their job as of today, Thursday, July 30, 2020.
Pizza Hut sources told state-run news agency amna, that “the company has made great efforts all the previous years to return the stores to positive rates of operation and growth.”
“Specifically, in the last 12 years and despite the continuous years of financial losses, it has invested 23 million euros for the development of the chain in Greece, while at the same time in the last decade it has created and secured more than 450 jobs,” the sources said.
They added that “the coronavirus pandemic, which created a crisis unprecedented in Greece and internationally, hit the catering industry hard and led to the worsening of the existing difficulties and the inability to reverse the negative climate.”
The closure of Pizza Hut stores in Greece due to the lockdown, “led to significant losses – multiplying the already existing business and financial challenges. Therefore, the whole project became unsustainable and any further actions would be doomed to failure. ”
The sources noted that “a few days ago NPC International, one of the largest franchisees of Pizza Hut in the US went bankrupt, due to the effects of the coronavirus pandemic.”
The company sources told amna, that Pizza Hut in Greece has fully fulfilled its obligations under the law, paying the relevant compensation to the 180 employees plus special additional compensation and having paid off all its debts to employees.
“Finally, all obligations to Pizza Hut suppliers are being met properly.”
