PZZA: NPC's bankruptcy will not have any impact on our business

06 July 2020 09:14

JAKARTA - PT Sarimelati Kencana Tbk (PZZA), the holder of the Pizza Hut brand in Indonesia, ensures that its business will not be affected by the bankruptcy of NPC International Inc. in the United States. NPC is only one of 110 Pizza Hut franchisees in the US.

Kurniadi Sulistyomo, Corporate Secretary of PT Sari Melati Kencana Tbk (PZZA) said the company had no legal relationship with the NPC. "This can be proven that the name of the NPC is not listed in the register of shareholders, financial statements (audited and unaudited) and annual reports of the company that have been submitted and reported to the Financial Services Authority and the Indonesia Stock Exchange," he said in a press release on Monday (6/7).

According to him, the company is still in a good financial condition after implementing the principles of corporate governance.

"The company has a license agreement with Pizza Hut Asia Pacific Holdings, LLC (PHAPH), as the franchisor. PHAPH is a separate legal entity and has no affiliation with NPC. It means that NPC's bankruptcy case will not have any impact on the legal status and sustainability of the agreement between the company and PHAPH, "he said. (LK/AR)

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