Wendy's, Pizza Hut Franchisee Gets Nod On $801M Ch. 11 Sale

Law360 (January 20, 2021, 7:12 PM EST) -- Bankrupt restaurant franchisee NPC International received permission Wednesday in Texas court for a pair of sale transactions that will transfer its hundreds of Wendy's and Pizza Hut restaurants to new owners with a price tag of $801 million.

During a virtual hearing, debtor attorney Kevin Bostel of Weil Gotshal & Manges LLP said NPC had marketed the assets for several months and worked out franchise agreement issues with Wendy's and Pizza Hut through a mediation process.

"A few weeks ago that mediation was successful and the parties reached a consensual deal that is the transaction going through today," Bostel said....

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