Croydon (Parliament Politics Magazine) – Pizza Hut’s Croydon restaurant closes as the brand goes into administration, leaving customers disappointed and employees uncertain about their future.
Pizza Hut declared that it would close 68 locales, including its Croydon( Purley Way) position.
As part of a restructure, it would also close 11 delivery locales, potentially affecting the layoff of 1,210 workers.
DC Administrators from the corporate finance firm FTI were hired on Monday by London Pie, the company that operates Pizza Hut’s franchised dine-in locations in the UK.
Yum! Brands, the American hospitality conglomerate that controls the Pizza Hut franchise worldwide, announced that it had acquired the UK restaurant chain in a pre-pack administration agreement, rescuing 64 locations.
The following South London stores are scheduled to close:
- Greenwich Peninsula – Unit 2 Cinema Development, Bugsbys Way, SE10 0QJ
- Croydon – The Colonnades, Purley Way, CR0 4RQ
How will this closure affect the Croydon centre economy?
The shutting down of the Croydon branch of Pizza Hut is anticipated to have a modest closure on the economy in the centre of the borough. While Pizza Hut is one of the more established businesses in the area, the check means that dining options for shoppers and workers likewise are again reduced, and visitor figures may drop as a result in the immediate area.
Croydon centre has been the focus of considerable retail challenges in the last many times. These have included falling visitor figures and rising vacancies in major retail centres, similar to the Whitgift Centre.
Although, also, Croydon has regeneration plans underway, such as spending on culture and creative sectors, and new commercial spaces which will help to offset challenges by bringing new businesses and visitors.
