30 votes

Yum Brands sells Pizza Hut to private equity firm LongRange Capital and Yum China for $2.7 billion

14 comments

  1. [3]
    imperator
    Link
    Ah they are going to sell off their real estate then declare bankruptcy.

    Ah they are going to sell off their real estate then declare bankruptcy.

    24 votes
    1. Cannonball
      Link Parent
      Almost guaranteed. A family member does something related to construction for them (for now) and has been VERY pessimistic about the whole thing. Bare minimum they're closing a ton of locations

      Almost guaranteed. A family member does something related to construction for them (for now) and has been VERY pessimistic about the whole thing. Bare minimum they're closing a ton of locations

      8 votes
  2. [5]
    updawg
    Link
    Surely it's not a coincidence that 2017 was the year I stopped working there... ...which also means I can speak with authority when I say it's been really shit for a while now. I can't remember...

    In 1969, Pizza Hut went public. Just two years later, it was the biggest pizza chain in the world, although it lost that title in 2017 to Domino’s.

    Surely it's not a coincidence that 2017 was the year I stopped working there...

    ...which also means I can speak with authority when I say it's been really shit for a while now. I can't remember the last time I had a pizza there that was actually prepped well.

    I also stopped right next to a Pizza Hut on a road trip last month and figured pizza and breadsticks sounded great. It was $18.61 for a personal pan cheese pizza, breadsticks, and a 20 oz bottle of soda. That's at least $10 overpriced. I felt like a fool when I heard how much I owed.

    I want to eat some Pizza Hut when I get a chance, but even knowing how much pizza places overcharge when you order off the regular menu, that makes me want to never give them my money again.

    Private equity might actually be good for the company even if they just strip it for parts.

    16 votes
    1. [2]
      Grumble4681
      Link Parent
      This is probably going to sound petty, but I went to order from Pizza Hut about a year or so go, and I haven't had Pizza Hut in years prior to that and while ordering from the app the usual 'add a...

      I want to eat some Pizza Hut when I get a chance, but even knowing how much pizza places overcharge when you order off the regular menu, that makes me want to never give them my money again.

      This is probably going to sound petty, but I went to order from Pizza Hut about a year or so go, and I haven't had Pizza Hut in years prior to that and while ordering from the app the usual 'add a tip' section is in the order placement screen even when placing a pickup order. That alone is whatever, everyone has that at this point, but Pizza Hut's went a step further and made it default 20% or something along those lines, and then on top of that if you selected 'more' or 'other' or whatever the option was that I don't remember now, 0% wasn't there. You then had to select custom and specifically put in 0% in order to not put in a tip on a pick-up order. I closed the app and didn't follow through with the order at that point, and then haven't bothered with Pizza Hut since then either.

      It's not enough to even shamelessly inject tip requests in places where they don't belong, they had to go the extra step to make it even more of an inconvenience to do it. They want you to feel like you're obligated to tip by forcing you to select custom and put in 0% to avoid it.

      10 votes
      1. updawg
        Link Parent
        Doesn't sound petty to me. Fuck em.

        Doesn't sound petty to me. Fuck em.

        2 votes
    2. 0x29A
      (edited )
      Link Parent
      Yeah, I used to eat it all the time as a kid and in college but really stopped eating it post-2010 or so, with maybe an occasional exception early on. Have not touched it in a decade- it really...

      Yeah, I used to eat it all the time as a kid and in college but really stopped eating it post-2010 or so, with maybe an occasional exception early on. Have not touched it in a decade- it really worsened over time. The quality fell, the prices jumped, and it just wasn't enjoyable at all anymore and made no sense to get compared to any of its competitors- it also didn't help that whatever changes they made over the years also made it impossible for my body to process.

      I can eat pizza just fine (almost anywhere else- even other fast food pizza like Dominos), but the moment I have Pizza Hut, I get the worst gastrointestinal issues and cramps, every single time, even if I only have a small amount. No idea what it is, but it seems specific to Pizza Hut.

      While I'm not inclined to think favorably of private equity, I do think if it couldn't improve on its own, it really is time for the brand as a whole to just sunset, however that has to happen. What I don't want to happen is what sometimes occurs in these situations- which is a temporary revival of the brand happens due to the short-term cash boost from selling off the real estate, where they think they've got a shot under new ownership and temporary money to structure the company differently, only for it to crash hard shortly thereafter because they don't own the real estate it's on anymore and can't stay afloat because now they have to rent or whatever. Tale as old as time.

      7 votes
    3. PraiseTheSoup
      Link Parent
      Hello fellow Pizza Slut. I haven't worked there since 2009, but it was my favorite pizza of the big chains for many years. We had an actual dining area and even served beer. I still remember when...

      Hello fellow Pizza Slut. I haven't worked there since 2009, but it was my favorite pizza of the big chains for many years. We had an actual dining area and even served beer. I still remember when smoking inside was allowed and the only thing separating the smoking and non-smoking sections was an invisible line. They just closed the location I worked at last week. Rumor is that it was very sudden and the employees were not even told. The delivery vehicles are still sitting in the parking lot.

      4 votes
  3. [4]
    babypuncher
    Link
    Does this mean the world's last KenTacoHut will soon just be a KenTaco?

    Does this mean the world's last KenTacoHut will soon just be a KenTaco?

    9 votes
    1. [2]
      moocow1452
      Link Parent
      There's what used to be a Tim Hortons/Wendy's where the Wendy's closed and now it's a Tim Hortons that is half abandoned and has a vestigial kitchen in the back.

      There's what used to be a Tim Hortons/Wendy's where the Wendy's closed and now it's a Tim Hortons that is half abandoned and has a vestigial kitchen in the back.

      6 votes
      1. sparkle
        Link Parent
        Unfortunately vestigial kitchen removal (kitchenectomy) is an elective surgery and insurance won't cover it, so Tim is just saving his money or hoping for a car accident that will make it a...

        Unfortunately vestigial kitchen removal (kitchenectomy) is an elective surgery and insurance won't cover it, so Tim is just saving his money or hoping for a car accident that will make it a necessary surgery.

        6 votes
  4. [2]
    Carrow
    (edited )
    Link
    I imagine Yum China wants to keep their Pizza Huts untouched by PE, their Huts aren't like ours in the US to my understanding. My bestie was visiting a friend in China and they took them out to a...

    I imagine Yum China wants to keep their Pizza Huts untouched by PE, their Huts aren't like ours in the US to my understanding. My bestie was visiting a friend in China and they took them out to a nice dinner out at Pizza Hut. Before they got there, bestie was confused, but it was like an upscale restaurant with full table service, wine serving, the works -- and of course a totally different menu (my memory is failing me on if they even served pizza).

    6 votes
    1. moocow1452
      (edited )
      Link Parent
      Does Yum China eventually buy back the brand during the Franchise Wars, and that’s the version we see in Demolition Man?

      Before they got there, bestie was confused, but it was like an upscale restaurant with full table service, wine serving, the works -- and of course a totally different menu (my memory is failing me on if they even served pizza).

      Does Yum China eventually buy back the brand during the Franchise Wars, and that’s the version we see in Demolition Man?

      4 votes