Popular restaurant chain with 77 branches closes three sites after rescue deal
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A POPULAR restaurant chain with 77 branches has closed three sites following a rescue deal. Asian-inspired Itsu has seen three of its sites suddenly close after one of its franchise partners was saved from collapse. Heart with Smart (HWS) was bought by investment firm Directional Capital last week in a pre-pack administration deal.
![[a building with a sign that says asian salads sushi]](https://www.thesun.co.uk/wp-content/uploads/2024/10/gv-closed-itsu-fast-food-676885017.jpg?strip=all&w=960)
A "pre-pack administration" deal is an insolvency process for a business to sell its assets before the appointment of administrators. The hospitality franchise was best known as the operator of Pizza Hut's dine-in restaurants in the UK, with the firm taking over around 150 of the sites as part of the deal.
Speaking at the time, Jens Hofma, the chief of HWS, told Sky News: "The future of the business has been secured with a strong platform in place.". The move does not impact Pizza Hut's takeaway arm which is owned by Yum Brands Inc. Alongside operating Pizza Hut's restaurant chain, HWS also ran a handful of Itsu sites.
Now reports have said that three of its branches across Aberdeen, Edinburgh, and Reading have closed abruptly. Scottish newspaper The National said the Aberdeen branch closed on Saturday January 18. A notice posted on the restaurant read: “The lease and ownership rights have unfortunately got caught up in their administration process. This restaurant has had to close while things are sorted out.
