Pizza Hut’s South Korean operations are being transferred to a new investment vehicle to manage debt while preserving the brand. Local private equity firms have formed PH Korea to acquire the operating rights for $7.6m. Creditors stand to recover 13% of claims through this court-supervised restructuring plan. The move follows a legal battle over franchise fees. The new entity plans operational changes to improve profitability and stability without immediate closures or layoffs. The deal is pending judicial approval and creditor support for completion.

Read more at Yahoo Finance: Pizza Hut’s South Korean unit set for ownership change under court supervision