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World's largest Pizza Hut franchisee in the US filed for Chapter 11 bankruptcy due to business loss in the Covid19 period. In its court filing, the franchise distributor of Pizza hut and Wendy restaurant's, NPC International Inc. listed estimated assets ranging from $1 billion to $10 billion and estimated liabilities in the same range. NPC operates 1,227 Pizza Hut and 393 Wendy's franchise in the United States, representing about 20% of the domestic Pizza Hut system. One of NPC's hurdles has been Pizza Hut's performance in recent years, which created a "significant drag on profitability due to a lack of sales growth and a significant inflationary cost environment," the filing said. But the Covid19 pandemic causes a big loss for Pizza Hut sales, and NPC has struggled wit...

Alibaba-backed Paytm is testing payment models to make its online wallet usable in the offline world — across large retail stores, restaurants and fuel stations — as the company looks for more avenues for the money stored in its digital wallet to be spent. Last week, Paytm, which recently got a payment bank licence from the Reserve Bank of India, started a pilot with Pizza Hut. Under the model, a customer can pay directly from his/her Paytm Wallet by opening the Paytm application and selecting the merchant from the list. "The idea is very simple. We are creating more offline to online use cases for the wallet," said Nitin Misra, vice- president of Paytm. Misra added that the company wants the Paytm app to become the local app for all payment needs be it for bills, groceries, challans, ...

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Pizza Hut Franchise File for Bankruptcy

Paytm testing payment models usable in offline mode