The owner of Pizza Hut’s operations has revealed it will be selling all its UK sites after going into administration last year.
Parent company Yum! Brands has agreed to sell the global pizza chain in a deal worth £2 billion, which will include the group’s UK sites.
Pizza Hut’s new owner will be private equity firm LongRange Capital, which is purchasing the brand for $1.5 billion (£1.1 billion).
Meanwhile, Yum said it will sell the Pizza Hut China business to Yum China in a £890million transaction.
Yum bought Pizza Hut’s UK operations in October last year after DC London Pie, the firm running Pizza Hut’s UK dine-in restaurants, fell into administration (Image: Getty Images)
Pizza Hut to be sold in £2 billion deal including UK sites
Chris Turner, chief executive of Yum! Brands, said: “Under LongRange and Yum China, Pizza Hut will be well-positioned for future growth with ownership that brings deep expertise in the restaurant industry.
“Pizza Hut is one of the most iconic restaurant brands in the world, and we are proud of the important role it has played in Yum’s history.”
This sale follows a strategic review launched by Yum! last November, as the casual dining sector continues to face challenging market conditions.
The UK arm of Pizza Hut was acquired by Yum! eight months ago, in October last year, after DC London Pie, which operated the dine-in restaurants, fell into administration.
The collapse resulted in the closure of 68 restaurants and 11 delivery sites, putting 1,210 jobs at risk.
However, Yum! was able to save 64 locations through its rescue deal.
In addition to the LongRange sale, Yum! will sell its Pizza Hut China business to Yum China for $1.2 billion (£890 million).
Yum! also owns Taco Bell and KFC, two other major global restaurant brands.
UK companies that have closed or entered administration or liquidation in 2026
The sale of Pizza Hut just months after its UK sites were at risk follows a trend of many businesses struggling financially in recent years.
It has been a tough year for the UK high street in 2026, too, with several retailers entering administration and others announcing widespread store closures.
Major high street brands LK Bennett and Claire’s both closed all their stores in April, having previously fallen into administration.
UK fashion retailers Leading Labels and Quiz are also set to close their remaining stores after falling into liquidation.
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Other retailers have been forced to close stores this year, including:
Iguanas Holdings Limited, which runs 47 Las Iguanas restaurants across the UK, and Poundstretcher are also in danger of collapsing into administration if restructuring plans aren’t agreed, having “fallen into financial difficulties”.
UK delivery company Yodel is set to be phased out after being acquired by InPost.
It’s also been reported that Morrisons is looking to sell some of its in-store pharmacies as it continues to cut costs.
It’s not been all bad news for the UK high street, with several major brands announcing new store openings for 2026, including Aldi, M&S, and Superdrug.
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