Pizza Hut and Wendy’s Operator NPC Files for Bankruptcy

NPC International Inc., the largest franchisee of Pizza Hut restaurants in the U.S., filed for bankruptcy after coronavirus-related shutdowns added to competitive pressures in the restaurant industry.

The closely held company sought Chapter 11 protection in the Southern District of Texas court on Wednesday. NPC, founded in 1962, operates 1,227 Pizza Hut and 393 Wendy’s stores across the U.S., according to court papers.

NPC and Pizza Hut have struggled with rising labor and food costs while trying to expand delivery and move away from traditional dine-in restaurants. The Overland Park, Kansas-based company also faces cut-throat competition from rivals such as Domino’s Pizza Inc. and Papa John’s International Inc.

The company has $903 million in debt and has pre-negotiated a restructuring agreement with about 90% of its first lien lenders and 17% of second lien lenders. The plan is aimed at reducing the company’s debt, with first lien lenders taking equity and potentially participating in a new cash injection. It also includes the sale of at least part of the company’s restaurants, according to the filing.

The Chapter 11 filing doesn’t mean Pizza Hut and Wendy’s are going out of business. NPC can keep operating while it works out a plan to pay its bills and turn the business around, and the bankruptcy doesn’t affect the thousands of other Pizza Hut and Wendy’s outlets owned by other franchisees.

Under the deal with its lenders, NPC will start trying to sell its Wendy’s restaurants in the coming days. Meanwhile, the company has until July 24 to work out a deal with certain creditors and Pizza Hut itself on how to restructure NPC’s pizza business. If they can’t come to a deal, NPC will try to sell an unspecified number of its Pizza Hut restaurants, according to a restructuring outline filed with the court.

“While NPC’s Chapter 11 filing was expected, we view it as an opportunity to create a better future for NPC’s Pizza Hut restaurants,” a Pizza Hut spokesperson said in an emailed statement. “We are working with NPC and its lenders to ensure that NPC’s Pizza Hut restaurants emerge from this process with the support they need to succeed.”

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https://www.yahoo.com/finance/news/pizza-hut-wendy-operator-npc-070330871.html

2020 PAC Contribution Data

Contributions from this PAC to federal candidates (list recipients) $0

Contributions to this PAC from individual donors of $200 or more ( list donors) $30,696,132

Official PAC Name:

ACTBLUE

Location: SOMERVILLE, MA 02144

Industry: Democratic/Liberal

Treasurer: HILL, ERIN

FEC Committee ID: C00401224

https://www.opensecrets.org/pacs/lookup2.php?strID=C00401224

Actblue

Federal Election Commission

HOME CAMPAIGN FINANCE DATA / COMMITTEE DETAILS

https://docquery.fec.gov/cgi-bin/fecimg/?C00401224

Article from 2018 regarding SOROS and ACTBLUE Fuckery. Lather, rinse repeat.

On Abigail Spanberger: "She got $2.2 million from ActBlue…That is the George Soros resistance group."

The spectre of George Soros - a billionaire philanthropist who supports liberal causes and is the focus of many conspiracy theorists - has entered the 7th District congressional race.

Dave Brat, the Republican incumbent, is saying on conservative radio shows that Soros is behind the hefty fundraising of Abigail Spanberger, the Democratic challenger. Spanberger had raised $4.5 million through Sept. 25, according to reports filed with the Federal Election Commision. That was nearly double the $2.3 million raised by Brat - or a $2.2 million difference.

Brat says Soros organizations are responsible for the difference.

"She got $2.2 million from ActBlue," Brat said during an Oct. 21 interview on Breitbart News Sunday. "Your audience probably knows who they are, right? But that is the George Soros resistance group. That’s not even mainstream Democrat. That’s the group that’s doing the riots in Portland, that’s promoting violence and mobs instead of jobs."

"…Abigail Spanberger is getting $2.2 million from the Soros-linked resist movement - ActBlue," Brat said during an Oct. 22 interview on the John Frederick Show in Portsmouth.

"She raised $3 million in the last three months, which is unheard of, from (House Minority Leader) Nancy Pelosi and ActBlue, which is a George Soros-backed group," Brat said during an Oct. 16 interview on News Radio WRVA in Richmond. "It’s her largest bundler which raises money, and that is the group that is behind the resistance movement across the United States."

Soros has been high in the news lately. Some conservatives - including religious broadcaster Pat Roberston of Virginia Beach - have accused Soros of funding the migrant caravan from the Honduras to the United States - a charge the billionaire says is false and for which no supporting evidence has emerged. And on Oct. 22, a pipe bomb was found in the mailbox of Soros’ home near New York City - one of at least 14 explosives that had been mailed in late October to critics of President Donald Trump.

We wondered whether Brat is right in claiming Spanberger’s campaign has received $2.2 million from a Soros-controlled group called ActBlue. Let’s take a look.

What is ActBlue?

ActBlue is a nonprofit organization that provides a software platform for people to contribute to Democratic campaigns through personal computers and cell phones. If you donate to a Democratic candidate on his or her website, there’s a good chance that ActBlue is the conduit that sends your money to the campaign - much like PayPal is the conduit for many online purchases. Since its inception in 2005, ActBlue says it has funneled $3 billion to Democratic candidates and "progressive" causes.

Spanberger uses ActBlue, and has received several thousand individual contributions through the platform. They totaled almost $2.2 million through Sept. 25, which was the most current FEC reporting date available when Brat made his statements.

Soros is among millions of people who have made contributions through ActBlue, according to Chris Fleming, spokesman for the nonprofit. "Soros has given through ActBlue, not to ActBlue," Fleming said. "Anyone can give through ActBlue."

https://www.politifact.com/factchecks/2018/nov/02/dave-brat/dave-brats-linkage-george-soros-abigail-spanberger/

>>9812782

https://yourstory.com/2017/12/blockchain-brains-innovators-entrepreneurs#:~:text=The%20pseudonymous%20and%20elusive%20person,%2DPeer%20Electronic%20Cash%20System'.