NPC International, a franchisee of Pizza Hut and Wendy’s Company will file for Chapter 11 protection.  The company operates more than 1,500 restaurants and employs more than 37,000.  The company was established in 1962 and has expanded to be a significant restaurant chain.

The company incurred a heavy debt burden through remodeling and expansion.  The advent of COVID-19, with home confinement restrictions, seriously impacted cash flow and the company missed interest payments on $800 million in loans.  NPC has been in discussion with lenders since February regarding restructuring of debt.