KEY POINTS:
Dine-in Pizza Hut restaurants are to become a thing of the past.
Chairman Ted van Arkel has told the company's annual general meeting they will progressively close down the 15 remaining Pizza Hut restaurants and move the business towards a takeaway and home delivery service. Six of the restaurants will be closed by the end of the year.
The move follows the announcement that Pizza Hut's owner Restaurant Brands has made a $3.6 million dollar loss, with the Pizza Hut operations taking the biggest hit.
Earnings have more than halved as a result of growing competition. The company's biggest earner is KFC. It has taken $45 million from customers in just the first quarter of the current financial year, a ten per cent increase on last year.
- NEWSTALK ZB
