More than a dozen Indiana Pizza Huts abruptly closed [Yahoo! Finance]
Yum! Brands, Inc. (YUM)
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Source: Yahoo! Finance
The 15 restaurants were located across northwestern Indiana and run by franchisee EYM Group, The Times of Northwest Indiana reported late last week. Their reported closures come as EYM Group and Pizza Hut have been engaged in legal action against each other. Both parties have lodged claims of contract breaches. In a June 7 lawsuit, Pizza Hut alleged EYM Group had breached its franchise agreement and a subsequent forbearance agreement that they reached in 2023. The pizza chain alleged that EYM had a "history of late paying fees owed to Pizza Hut and other interested entities pursuant to the Franchise Agreements" and that it defaulted on them in several instances, according to the suit. EYM Group, which has been working to offload its Pizza Hut restaurants for quite some time, earlier claimed Pizza Hut had not lived up to its own contract obligations. READ ON THE FOX BUSINESS APP Some of its claims included that Pizza Hut had purportedly "failed to adapt to modern business
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