The franchisee for Emporia’s Pizza Hut has announced plans to sell all its assets for both that chain and the Wendy’s restaurants it operates as well.
NPC International entered into Chapter 11 bankruptcy back in July and subsequently reached an agreement with Pizza Hut’s owner, Yum! Brands, to close up to 300 restaurants and sell the rest. It’s now seeking $325 million total for the Pizza Hut restaurants, according to Ingram’s Magazine. NPC also plans separate bids for the Pizza Hut and Wendy’s restaurants it manages, and Ingram’s says any restaurants not sold after Nov. 19 will still be held by NPC until new sale plans are finalized.
As part of its bankruptcy filing, NPC announced over $900 million in debt. NPC, based in Leawood, owns over 1,600 Pizza Hut and Wendy’s restaurants in better than 25 states.
Emporia’s Pizza Hut had been located on West Sixth for years before moving to 2920 West 18th in 2007.
