Pizza Hut’s franchisee EYM Pizza L.P. filed for Chapter 11 bankruptcy Monday.
The filing in the Eastern District of Texas will likely lead to the closure of roughly 140 Pizza Hut restaurants throughout the South and Midwest, according to NRN. EYM apparently owes more than $21 million to Manufacturers Bank, and just under $2.25 million to Pizza Hut itself.
The pizza restaurant sued EYM for not paying royalties on time and did not make payments after a forbearance period was granted in 2023 that ran through February, the outlet noted in another report. The company is owned by McDonald’s Mexico president Eduardo Diaz and has only been operating Pizza Huts since 2015.
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Diaz closed more than 15 Pizza Hut locations in…
