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.
Food Security Isn’t Being Tracked, According To Scientists.
Here’s Why That’s A Huge Issue:https://t.co/xYlOJiMmRW
— Daily Caller (@DailyCaller) March 8, 2023
Diaz closed more than 15 Pizza Hut locations in Ohio and Indiana before the latest filing, suggesting the writing was already on the wall. (RELATED: Bankruptcy Filings Spiked In 2023 Under The Biden Administration, And You Should Expect More Financial Chaos To Come)
Pizza Hut joins a number of other chain eateries filing for bankruptcy and falling apart as the financial crisis hitting American homes goes from bad to worse — and is still ignored by a majority of news media and lawmakers.
It turns out that Americans don’t want to indulge in overpriced globs of plastic cheese on fake bread when we’re worried about our totally screwed real estate market, economy, food prices and the future we’re creating for the next generation. Who’d have thought it?!
