Pizza Hut to close 250 US restaurants as parent company considers selling brand

Pizza Hut plans to close 250 US restaurants in the first half of this year as its parent company considers a sale of the chain.Yum! Brands said on Wednesday it is targeting underperforming Pizza Hut restaurants in its system. Pizza Hut has more than 6,000 locations in the US.The Louisville, Kentucky-based company said in November it was conducting a formal review of options for Pizza Hut, which has struggled with outdated restaurants and growing competition.The chain’s US same-store sales, or sales at locations open at least a year, fell 5 per cent last year, Yum! said.Rival Domino’s, the world’s largest pizza company, has not yet released its full-year earnings, but its US same-store sales were up 2.7 per cent in the first nine months of last year.Internationally, Pizza Hut’s results have been stronger. International same-store sales were up 1 per cent last year, with growth in Asia, the Middle East and Latin America, Yum! said. China is Pizza Hut’s second-largest market outside the US, accounting for 19 per cent of sales.