The owner of Pizza Hut UK is considering selling some of its restaurants to raise funds after recent tax hikes outlined in last month’s Budget.
Heart With Smart (HWS), which operates 140 Pizza Hut dine-in locations across the UK, aims to raise £10 million. The funds will be used to invest in technology, including touch-screen ordering machines and remote table ordering, to reduce dependence on low-wage staff, who will become more costly to employ due to increased national insurance contributions.
HWS plans to secure the additional cash either from its current investors or through the sale of part of the business.
The company employs around 3,000 people and licenses the Pizza Hut brand from Yum! Brands.
Sky News reports that HWS expects to finalize a deal within the next few months.
Several major UK employers have warned that the tax hikes could lead to job losses.
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