More jobs could go in Sheffield as Pizza Hut 'considering insolvency agreement'

The company, which has several restaurants in the city, employs 5,700 people across 244 branches nationwide – but, like many dining venues, it was forced to close amid the coronavirus lockdown.

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Now, Sky News has reported it is ‘examining the merits’ of a company voluntary arrangement (CVA).

It is not yet known how many sites or jobs might be at risk under any restructuring process.

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A Pizza Hut spokesperson said: “Along with many other businesses, we are looking at ways to minimise that financial impact, while continuing to trade as usual.

“Whether this will require financial restructuring in the form of a CVA or otherwise is as yet undecided."

On Wednesday, the company confirmed 213 of its restaurants will be trading by 10 August, with a view to reopening the remainder as soon as possible. In Sheffield, Pizza Hut’s Meadowhall, city centre and Crystal Peaks restaurants have all reopened.

Pizza Hut Restaurants is separate from the brand's UK delivery arm, which trades from a further 380 outlets.

Other casual dining chains have already announced redundancies int the wake of the coronavirus pandemic, including Restaurant Group, which last month announced almost 3,000 job losses in chains such as Frankie & Benny’s, Burger King, with 1,600 job losses, and Bella Italia owner Casual Dining Group, with the loss of 1,900 jobs.