Posted on 09/26/2024 7:17:24 PM PDT by Red Badger
EYM Pizza L.P., a Pizza Hut franchisee that filed for bankruptcy in July, is selling all 127 of its stores in Illinois, Indiana, Georgia, South Carolina, and Wisconsin, as part of a financial restructuring process.
EYM engaged M&A advisory and brokerage firm National Franchise Sales to facilitate the sale, including assistance in the asset recovery process to maximize recovery for creditors. EYM’s bankruptcy filing listed two creditors: Manufacturers Bank, which it owes more than $21 million, and Pizza Hut itself, which is owed just under $2.25 million.
“National Franchise Sales is dedicated to navigating this challenging period with EYM Pizza L.P. and its affiliates. Our goal is to ensure a smooth transition and maximize value for all parties impacted by this process,” NFS Asset Recovery Team lead advisor Alan Gallup said in a statement.
EYM’s bankruptcy came after Pizza Hut sued the franchisee for not paying royalties on time even after a forbearance period was granted. EYM had previously sued Pizza Hut for breach of fiduciary duty, among other claims, but the case was dismissed, opening the way for Pizza Hut’s own lawsuit.
In August, EYM Pizza’s sibling company EYM Chicken abruptly closed about 25 KFC restaurants in various markets in Illinois, Indiana, and Wisconsin. Both are owned by EYM Group, which also franchises Denny’s and Panera locations. Those KFC stores will remain closed until the locations have new owners.
I haven’t ordered anything from Pizza Hut in about three years now. It’s just too expensive.
So, it’s your fault!.................😁
There used to be a location in Dallas where they sold Pizza Hut, Taco Bell and KFC in the same store. The local Taco Bell sold Pizza Hut personal pan pizza, but not the full menu, for several years, but the automatic pizza oven was gone before Covid.
Interesting way of looking at it! HAHAHA
Prepared food too expensive. Pizza Hut low quality.
I used to love their pizza.
But then they went full-on queer.
Haven’t had a Pizza Hut pizza since they embraced queerness.
There’s a Pizza Hut down the street from our house. Take-Out or delivery only. We haven’t had one of their pizzas in years. Little Caesar’s is our go-to pizza..........
We like Little Caesar’s, too. It’s cheap, fast, and tastes good. We add a little pizza sauce to it.
I grew up in a place where Pizza Hut was ALL we knew.
When we moved to Louisville, 23 years ago, Pizza Hut was still our favorite. But then, a few years ago, their pizzas got stale.... overly salty.. and, Dominos KILLED them on delivery time. Any pizza, delivered quicky.... is pretty good. Pizza Hut never understood this.
I HATE to see them go away. But, I am NOT surprised. I’m a marketing expert. I think 80% of pizza sales are marketing. They would be smart to contact me! :-)
But, I hold out no hope that this will happen..
Pizza Hut is crap now. Same thing with Papa John’s. It used to be better.
WAY back in the Day, whilst traveling, one could locate a Pizza Hut near the overnight Motel and go get some Pizza and Beer.
It’s been a at least a Decade [maybe two?] since I did that.
For me, Pizza Hut could now blow away and I’d never be affected. [Creative Destruction...]
Pizza Hut is crap now. Same thing with Papa John’s. It used to be better.
Before the venture capital companies bought them all up.
Before covid they had actual restaurants in Canada... After covid, those disappeared and they went with delivery only... But continued to charge restaurant prices... Bad idea.
Ours is a Nail Salon....................
The only thing that matter to me:
Did everyone who was owed get paid?
If you owe someone you should either pay them or be thrown in jail to work (after everything you own is sold) until every cent is paid.
A person who doesn’t pay every debt no matter what it takes is no better than any other thief or vandal.
I hate the very idea; deadbeats should be shamed, flogged, and sold for bodyparts.
I just ordered a pizza today from them today. I do a few thursdays every month.
fortunately they opened one near my work recently.
it is not expensive at all. check the website deals
most of the pizza places near me are like $32 for a large
yeah some is better pizza but some really is not.
the really good ones are not something I would routinely pay for.
That’s why the sell-off. $21 million owed to the bank and $2.5 million owed to Pizza Hut............
Pizza Hut made their worst mistake by changing the recipe for their sauce to a cheaper version. The original sauce was one that set Pizza Hut apart with the completion. That decision set their demise.
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