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Article: Restaurant Brands strikes exit deal from Pizza Hut Victoria.
- Article from:
- Australasian Business Intelligence
- Article date:
- December 12, 2006
CopyrightCOPYRIGHT 2006 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec 12, 2006 (Food Week - ABIX via COMTEX) -- The Restaurant Brands group of New Zealand (NZ) has decided to quit its 50 ailing Pizza Hut stores in Victoria by the end of February 2007. Restaurant Brands has reached an agreement with the US master franchisor, Yum!, to exit from the stores quickly. Yum! announced that it intends to expand the Pizza Hut network in Australia, including Victoria. The total cost of the exit from Victoria will be around $NZ9 million. Restaurant Brands intends to focus on the NZ operations of its KFC, Starbucks Coffee and ...