'Korean Pizza Hut' Rehabilitation Procedure Starts...Failure to Restructure Autonomous Reorganization

Korea Pizza Hut, which runs a pizza Hut franchise business in Korea, has gone through the court's rehabilitation process.

The Seoul Rehabilitation Court today (16th) decided to start rehabilitation procedures for Pizza Hut Korea.

The deadline for submitting the final rehabilitation plan is March 20 next year, and the court will review the plan and decide whether to approve it.

Earlier last month, the court approved an autonomous restructuring program for Pizza Hut Korea, but decided not to extend the period further because there was no smooth agreement between the company and its creditors.

Earlier, Korea Pizza Hut lost a lawsuit filed by franchisees claiming that it was unfair to sell margins on materials without an agreement and compensated 21 billion won, and filed for corporate rehabilitation on the 4th.