Retail

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Yum Brands finalizes sale of Pizza Hut in $1.5B deal

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Yum Brands finalizes sale of Pizza Hut in $1.5B deal

Yum Brands has finalized the sale of Pizza Hut operations outside China to LongRange Capital for $1.5 billion, following an earlier divestment of Pizza Hut China to Yum China Holdings. The transactions, worth a combined $2.7 billion, leave Yum more focused on its core scale and digital strengths, with potential earn-out payments tied to Pizza Hut’s performance. Pizza Hut, now privately held and led temporarily by former P.F. Chang's president and CEO Eduardo Luz, faces skepticism as it pursues a turnaround in a crowded delivery market.

3 min read A Adam Hanafi

Yum Brands has officially completed the sale of Pizza Hut's operations outside mainland China to private-equity firm LongRange Capital for approximately $1.5 billion. The transaction marks the end of Yum's ownership of one of the world's most recognizable...

Saks exits Chapter 11, rebrands as Exemplar Luxury Group

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Saks exits Chapter 11, rebrands as Exemplar Luxury Group

Roughly half a year after filing for Chapter 11, retail giant Saks Global has emerged from bankruptcy protection, and changed its name to Exemplar Luxury Group. The company — which owns Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman — says it has cut its debt by 75% and secured $500 million in new funding. CEO Geoffroy van Raemdonck, who was appointed to lead Saks' restructuring, tells The New York Times the new-look company will focus more exclusively on higher-end retail, pledging to "reimagine what the luxury experience is."

1 min read A Admin

Roughly six months after filing for Chapter 11 bankruptcy protection, retail giant Saks Global has successfully emerged from restructuring. As part of its fresh start, the company has officially changed its name to Exemplar Luxury Group. The luxury retailer...