Business
What went wrong with Pizza Hut?
Faarea MasudBusiness reporter
BBCPizza Hut was once a go-to for families and friends to tuck into its all-you-can eat buffet, unlimited salad bar, and self-serve ice-cream with all the toppings.
But fewer diners are “hitting the Hut” these days and it is closing half its UK restaurants after being bought out of administration for the second time this year.
“We used to go to Pizza Hut when I was a child,” says Prudence, when the BBC asked shoppers in London why they thought the chain was struggling. “It was like a family thing, you’d go on a Sunday – make a day of it.” But now aged 24 she says “it’s not a thing anymore”.
For 23-year-old Martina Debnatch it is some of the very things Pizza Hut has been known and loved for since it opened in the UK in the 1970s that are now not-so-hot.
“The way they do their buffet and their salad bar, it feels like they are cheapening on their quality and have lower standards…They’re giving away so much food and you’re like ‘How?'”
As food prices have soared, Pizza Hut’s all-you-can-eat model has become very expensive to run. As have its 132 restaurants which are being sliced to 64.
The business, like many others, has also seen its costs increase. In April this year, staffing costs jumped due to rises in minimum wages (which went up nearly 7% this year, to £12.21 for employees aged 21 and over) as well as an increase in employer national insurance contributions.
Chris, 36, and Joanne, 29 say they used to go to Pizza Hut for a date “every now and then”, but now they order in a Domino’s and think Pizza Hut is “very overpriced”.
Depending on your order, Pizza Hut and Domino’s prices are similar, says Giulia Crouch, food expert and author of The Happiest Diet in the World.
While Pizza Hut does offer takeaway and deliveries through Ubers Eats, Deliveroo and Just Eat, it is losing out to big rivals which solely cater to this market.
“Domino’s has managed to dominate the takeaway pizza sector thanks to aggressive marketing and constantly running deals that make consumers feel like they’re getting a bargain, when in reality the original prices are quite high,” says Ms Crouch.
But for Chris and Joanne it is worth it to get their date night delivered to their door.
“We definitely eat at home now more than we eat out,” says Joanne, echoing recent statistics that show a drop in people going to casual and fast-food restaurants.
John Keeble/Getty ImagesOver the summer, casual and fast-food restaurants saw a 6% drop in customers compared to last summer.
There is also another rival to restaurant and takeaway pizzas: the cook-at-home oven pizza.
Will Hawkley, head of leisure and hospitality at KPMG, points out that not only have supermarkets been offering high-quality oven-ready pizzas for years – some are even selling home-pizza ovens.
“Lifestyle changes are also playing a factor in the success of fast-food chains,” says Mr Hawkley.
The rising popularity of high protein diets has boosted sales at chicken shops, while hitting sales of carb-heavy pizza, he adds.
As people go out to eat less frequently they may look for a more a premium experience and Pizza Hut’s American-diner style with booth seating and red and white checked plastic table cloths can feel more retro than upmarket.
The “explosion of high-quality pizzerias” over the last 10 to 15 years, such as Franco Manca, has “fundamentally changed the public’s perception of what good pizza is,” says Ms Crouch.
“A light, fresh, easy-to-digest product with a few choice toppings, not the massively greasy, heavy and overloaded pizzas of the past. That, I think, is what’s caused Pizza Hut’s downfall,” she says.
“Why would anyone spend £17.99 on a small, substandard, disappointing pizza from a chain when you can get a beautiful, masterfully-made Margherita for under a tenner at one of the many authentic Italian pizzerias around the country?
“It’s a no-brainer.”
Dan PuddleDan Puddle, who owns Smokey Deez, a small mobile pizza van based in Suffolk says: “It’s not that people have fallen out of love with pizza – they just want better pizza for their money.”
Dan says his flexible operation can offer premium pizza at accessible prices, and that Pizza Hut struggled because it could not keep up with new customer habits.
At Pizzarova, a small independent chain based in Bristol, owner Jack Lander says the pizza market is broadening but Pizza Hut has failed to offer anything new.
“You now have slice concepts, London pizza, new haven, sourdough, Neapolitan, Detroit – it’s a heavenly minefield for a pizza-loving consumer to explore.”
Jack says Pizza Hut “needs to reinvent itself” as younger people don’t have any sense of nostalgia or loyalty to the brand.
Jack LanderOver time, Pizza Hut’s market has been sliced up and distributed to its trendier, more nimble rivals. To maintain its expensive staffing and restaurants, it would have to increase costs – which KPMG’s Mr Hawkley says is difficult at a time when household budgets are shrinking.
Nicolas Burquier, Pizza Hut’s managing director of international markets, said the buyout aimed “to safeguard our guest experience and protect jobs where possible”.
He said its immediate priority was to continue operating at the remaining 64 restaurants and 343 delivery sites and to support colleagues through the transition.
But with so much money going in to running its restaurants, it likely can’t afford to invest too much in its delivery service because the sector is “complex and partnering with existing delivery apps comes at a cost”, Mr Hawkley says .
But, he adds, cutting its costs by leaving oversaturated towns and city centres could be a good way to adapt.
Business
CBDT acts against intermediaries filing tax returns with bogus deduction claims – The Times of India
NEW DELHI: After a massive nationwide operation, Central Board of Direct Taxes acted against several intermediaries involved in filing income tax returns with bogus claims of deductions and exemptions under the Income Tax Act.The move followed actions in July 2025, covering 150 premises, during which more than 102 suspicious RUPPs were identified for their role in facilitating bogus donation-linked deductions. Data analytics had flagged over 2 lakh taxpayers who claimed suspicious deductions under Section 80GGC, adding up to Rs 5,500 crore routed through suspicious or non-existent RUPPs and a similar amount of bogus donations to non-genuine charitable organisations, said officials.The enforcement findings have also prompted reversals of bogus deductions by taxpayers. Around 54,000 have already corrected their filings and withdrawn ineligible claims worth approximately Rs 1,400 crore and updated their returns after CBDT nudged them to revise their returns.Most of these taxpayers claimed deductions below Rs 5 lakh and a few companies claimed very high deductions.The exercise also revealed how intermediaries had established networks of agents to file returns with incorrect claims on commission basis. An intermediary was found to be advertising guaranteed refunds in cinema halls and on social media. It was found that there was a syndicate of professionals who was operating through WhatsApp and Telegram channels to find taxpayers looking at reducing tax liability through fake donations to RUPPs or charitable organisations.Instances of misuse of CSR-linked trusts, which facilitated bogus donation receipts in exchange for cash-back, were found during the probe.“It was observed that huge amounts of bogus claims have been made on account of donation RUPPs or charitable institutions and reduced their tax obligations and have also claimed bogus refunds.Evidence gathered from enforcement actions indicated that RUPPs many of which were non-filers, non-operational at their registered addresses, and are not engaged in any political activity were being used as conduits for routing funds, hawala transactions, cross border remittances and issuing bogus receipts for donations,” an official statement said.
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The move is expected to provide an immediate and substantial boost to Nepal’s economy, particularly its tourism and hospitality sectors, which rely heavily on Indian visitors
The original restrictions on high-value Indian currency were severely tightened in Nepal following the 2016 demonetisation in India, which withdrew old ₹500 and ₹1,000 notes. Representational image
Nepal is preparing to officially permit the circulation of Indian currency notes above the ₹100 denomination, marking the end of a nearly decade-long ban that has significantly complicated cross-border travel, trade, and remittances between the two countries. The move, currently in its final stages with the Nepal Rastra Bank (NRB) preparing to publish the official notice, follows a crucial regulatory shift by India’s central bank.
The original restrictions on high-value Indian currency were severely tightened in Nepal following the 2016 demonetisation in India, which withdrew old ₹500 and ₹1,000 notes. Even after new notes were introduced, Nepal maintained the ban on all denominations above ₹100 due to concerns over the smuggling of counterfeit currency and security risks. This policy forced Indian tourists and Nepali migrant workers to carry large wads of low-denomination notes, leading to financial hardship, confusion, and frequent incidents of travellers being detained or fined for inadvertent violations.
India’s Regulatory Green Light
The pivotal change that has allowed Nepal to reverse course came from the Reserve Bank of India (RBI). In late November 2025, the RBI amended its Foreign Exchange Management Regulations, formally allowing individuals to transport higher-denomination Indian rupee notes across the border.
The new rule specifies that individuals can carry Indian currency notes of any amount in denominations up to ₹100. Crucially, they are now permitted to carry notes above ₹100 up to a total value of ₹25,000 in either direction—both into Nepal and back into India. This amendment effectively removed the main legal constraint that previously limited the practical utility of higher-value notes for travellers.
Boosting Tourism and Easing Remittances
The lifting of the ban is expected to provide an immediate and substantial boost to Nepal’s economy, particularly its tourism and hospitality sectors, which rely heavily on Indian visitors. Businesses in border towns, casinos, and pilgrimage routes that cater to Indian tourists have been vocal in lobbying for this change, as the previous restrictions limited spending power.
Furthermore, the decision is a massive relief for the estimated two million Nepali migrant workers in India, who previously faced major security risks when bringing home their earnings in small denominations. The Nepal Rastra Bank (NRB) spokesperson, Guru Prasad Poudel, confirmed that the process is nearing completion, stating they are preparing to publish the notice in the Nepal Gazette before issuing circulars to banks and financial institutions, ushering in a new era of smoother financial integration between the two neighbours.
Click here to add News18 as your preferred news source on Google. December 14, 2025, 01:21 IST
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Business
8th Pay Commission: Railways to trim costs to accommodate higher wages; maintenance, procurement, energy sectors in focus – The Times of India
Railways is implementing focused cost-cutting initiatives across maintenance, procurement and energy sectors to fortify its financial position before dealing with increased wage expenses anticipated from the Eighth Pay Commission recommendations.Established in January 2024, the Eighth Pay Commission must submit its recommendations within an 18-month timeframe.The previous Seventh Pay Commission led to wage increases of 14-26% for railway staff. Its implementation began in 2016, with tenure concluding in January 2026. The national transporter is currently emphasising expense reduction to enhance operational efficiency over the next two years to prevent financial strain from the forthcoming recommendations.The Seventh Pay Commission increased the wage expenditure by Rs 22,000 crore, including salaries and pensions, whilst the current projection suggests a potential rise of Rs 30,000 crore. “We have planned for the additional fund requirement,” a senior official told Economic Times, stating that internal accruals, combined with projected savings and increased freight revenue, would cover the expenses.Indian Railways recorded an operating ratio (OR) of 98.90% in fiscal 2024-25, resulting in net revenue of Rs 1,341.31 crore. For fiscal 2025-26, the target OR is 98.43% with anticipated net revenue of Rs 3041.31 crore.Officials anticipate annual energy savings of Rs 5,000 crore following network electrification completion.Additionally, yearly payments to Indian Railway Finance Corporation (IRFC) are expected to decrease in fiscal 2027-28, as recent capital expenditure has been funded through gross budgetary support (GBS).Officials confirm no plans for new short-term borrowing. “Annual freight earnings will also rise by Rs 15,000 crore when higher wages need to be paid in 2027-28,” the official stated.The Seventh Pay Commission implemented a 2.57 fitment factor, raising minimum basic pay from Rs 7,000 to Rs 17,990. Central trade unions advocate for a 2.86 fitment factor for the Eighth Pay Commission, potentially increasing the national transporter’s wage bill by over 22%.“Railways will ensure its finances are in a good condition to absorb the hit. Funds would not be an issue,” the official confirmed.The Railways has allocated Rs 1.28 lakh crore for staff costs in 2025-26, increased from Rs 1.17 lakh crore in 2024-25. Additionally, Rs 68,602.69 crore is earmarked for the pension fund in FY26, up from Rs 66,358.69 crore in FY25.
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CBDT acts against intermediaries filing tax returns with bogus deduction claims – The Times of India
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