NPC International to push back deadline on Pizza Hut bids

The bankrupt Leawood-based franchisee has agreed to push back the bid deadline for remaining Pizza Hut assets to late November following sale opposition from Pizza Hut LLC over concerns that a group of credit-focused hedge funds would take over locations.

Leawood-based NPC International Inc., which filed for bankruptcy in July, has decided to move back the deadline for bids on Pizza Hut assets.

The decision arrives following concern from Pizza Hut owner Yum! Brands that a group of credit-focused hedge funds would take over remaining locations.

The deadline has been for bids on the remaining 900 Pizza Hut restaurants has been extended to Nov. 20 from the original Nov. 5 cutoff, finalized during a Wednesday hearing in U.S. Bankruptcy Court.

An extension has also been granted for a proposed hearing on the sale of NPC’s assets from Nov. 18 to Dec. 4.

Back in July, details of NPC’s bankruptcy filing included $903 million in debt and reports of a decline in business for the chain, leading to the decision to shed both its Pizza Hut and Wendy’s locations.

According to the NPC International website, the franchisee currently owns 1227 Pizza Hut stores and 393 Wendy’s stores, NPC reaching a deal in August to sell 300 Pizza Hut locations with 900 now up for bid.