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NPC receives court approval to proceed with Chapter 11

Leawood-based NPC International announced it has been given approval from a U.S. Bankruptcy Court on its Second Amended Joint Chapter 11 Plan. This follows recent approval of separate asset purchase agreements with Flynn Restaurant Group and Wendy’s International.

NPC International, Inc. announced it has achieved approval from the U.S. Bankruptcy Court for the Southern District of Texas on its Second Amended Joint Chapter 11 Plan.

The Plan is supported by the Leawood, Kan.-based company’s key stakeholders, among others.

On Jan. 20, 2021, the Court also approved the previously announced separate asset purchase agreements with Flynn Restaurant Group and Wendy’s International LLC, which will result in the sale of substantially all of NPC’s assets.

The sale transactions are expected to close in the second quarter of 2021, and the plan would be finalized shortly thereafter.

“With today’s confirmation, we have achieved a significant milestone for NPC and for our team,” Carl Hauch, CEO & president of NPC’s Wendy’s division, said. “As our restaurants and team become part of the organizations of Flynn or other Wendy’s franchisees, we are confident they will have many new opportunities ahead to grow and thrive.”

“We are very pleased to have received the Court’s approval of our Plan,” Jon Weber, CEO & president of NPC’s Pizza Hut division, said. “This important step represents the successful culmination of a lot of hard work by many people, including months of constructive negotiations with our brand partners and lenders.”