Court approves Pizza Hut 'support for self-restructuring'...Resurrection start on hold

The Seoul Rehabilitation Court today (11th) approved the autonomous restructuring support and ARS program for Pizza Hut Korea, which applied for corporate rehabilitation.

The ARS program is a system in which the company voluntarily consults with creditors on repayment plans, and the court has put the decision on whether to start the rehabilitation process until the 11th of next month for autonomous consultation between the two sides.

On the 5th, the court also issued a comprehensive prohibition order preventing creditors from enforcing enforcement, allowing Korean Pizza Hut to operate as before.

Earlier, Korea Pizza Hut received about 21 billion won in compensation when it lost the second trial of a lawsuit filed by franchisees for the return of unfair profits, and applied for an ARS program along with a rehabilitation application to the court to resolve the issue of enforcement.