The administrators of a franchisee group running Pizza Hut restaurants have called in CAPA to help fuel recoveries for the firm’s creditors.
CAPA has been appointed to conduct a business rates audit on 18 outlets run by a group of companies, known as the RNT Group, which all operate and trade under the Pizza Hut brand. The companies entered administration in February.
The RNT Group had suffered challenging trading conditions in the past two years, along with intense competition from similar franchises and loan obligations that heavily impacted cashflow.
Ultimately, Situl Raithatha and Deviesh Raikundalia, both partners at the corporate restructuring and insolvency firm Springfields, were appointed joint administrators on February 21 this year, but they were able to sell the group to Ahrab Ltd, an associated company, the same day.
The deal enabled the businesses to continue trading and safeguarded the jobs of around 270 staff.
The administrators have now instructed CAPA to conduct the business rates audit, meaning CAPA’s Audit team will use bespoke software to interrogate data on rates paid to local authorities at all of the 18 Pizza Hut restaurants.
The team will look to identify any errors or anomalies, before recovering any overspend for the franchisee’s creditors.