Prezzo, Itsu, Wahaca and Café Rouge have all called in advisers to examine their financial positions after months of lockdown closures.
The high street chain employs more than 5,000 people in Britain and is the latest in a string of restaurants to implement changes to their business amid the Covid-19 pandemic.
The high street pizza chain has said it will be closing 29 of its 244 restaurants in the UK and estimates up to 450 people are at risk of losing their job
Despite this, bosses have been forced to to turn to insolvency mechanisms to restructure their business.
Pizza Hut has announced plans to shut 29 of its 244 restaurants in the UK – putting up to 450 jobs at risk as coronavirus takes a toll on the chain.
Pizza Hut had improved sales prior to the coronavirus outbreak, after a period of under-performance.
“We are in the final negotiation stages with our creditors and expect an agreement to come to a close in the following days. However, we cannot comment further on the terms of the CVA until it is underway.”
In a statement, a Pizza Hut Restaurants spokeman told Sky News: “Pizza Hut Restaurants, the UK dine-in franchise business of the global Pizza Hut brand, can confirm it is planning a Company Voluntary Agreement (CVA) in order to mitigate the financial impact of COVID-19.
The majority of Pizza Hut’s restaurants have now reopened under the government’s tax subsidised Eat Out To Help Out scheme.
Pizza Hut Restaurants is the main franchisee of the Pizza Hut brand in the UK, and is a separate company to the Pizza Hut UK business, which focuses on deliveries.
After the month-long initiative, which ended at the beginning of September, Johnson has now announced plans to cut social gatherings of more than six people.
The Eat Out To Help Out scheme has been hailed by government ministers for “saving” the hospitality industry, but there are still concerns about the long-term survival of some restaurants.
Brits have said the chopping and changing of the rules has caused confusion, and the Government has been accused of hypocrisy.
The rules are likely to have a significant impact on trade, particularly if its continues through the busy period before Christmas.