Ailing Aussie Pizza Hut stores to be sold to franchisees

April 5, 2006

Newswire.co.nz: Restaurant Brands said it will take a pre-tax write-down of AUS $7 million (U.S. $9.6 million) in selling its struggling Australian Pizza Hut units (in the state of Victoria) to franchisees. A long run of losses and closures posted in the highly competitive market forced the move.