Pizza Hut are to close 29 restaurants across the UK in an attempt to stay in business, which will affect 450 jobs.
Creditors and landlords were persuaded to vote in favour to reduce rents and bills, Pizza Hut announced.
On Monday Company Voluntary Arrangement (CVA) agreed which will save 5,000 jobs.
A Pizza Hut Restaurants spokesperson said, “The Company Voluntary Arrangement (CVA) for Pizza Hut Restaurants, (PHR – the UK dine-in franchise business of the global Pizza Hut brand), is now approved.
“We are delighted to have reached such a constructive position in partnership with our landlords and creditors.
“We appreciate the support of everyone involved and this outcome provides us with a strong platform to secure the long-term future of the business including over 5,000 jobs and over 200 restaurants.
“Our focus is now ‘business as usual’ supporting all of our team members and continuing to provide a Covid-safe restaurant experience for our guests.”