Yum Brands has completed the sale of Pizza Hut to private equity firm LongRange Capital. This acquisition comes as Pizza Hut has been experiencing significant store closures in recent years. In 2025, Pizza Hut closed 261 U.S. stores, contributing to a net loss of 206 restaurants that year. California saw the most closures with 28 locations, followed by Florida with 25 and Illinois with 20. The trend of declining store numbers has been ongoing, with net losses increasing each year since 2023. While closures have significantly outnumbered openings, Pizza Hut did open 55 franchised locations across 25 states in 2025. New York saw the most new openings with 10, followed by Texas with 7 and Florida with 6. Additionally, Pizza Hut reacquired 54 franchisee locations, increasing its company-owned footprint. These reacquired stores were primarily in North Carolina, Louisiana, and South Carolina. Looking ahead, Pizza Hut plans to close approximately 250 underperforming locations in the first half of 2026. More closures have already been observed in early 2026, with 127 franchise restaurants ceasing operations since late 2025. The company has not yet confirmed if it will proceed with the full 250 planned closures.