Pizza Hut Restaurants’ company voluntary arrangement (CVA) has been approved.

The proposals include the closure of 29 sites and the loss of 450 jobs.

Following the restructure, the UK franchise business has around 215 restaurants, with 5,000 jobs preserved.

The Jens Hofma-led company said it had faced significant disruption across its estate despite a quick, safe reopening, with sales not expected to fully bounce back until well into 2021.

A spokeswoman said: “We are delighted to have reached such a constructive position in partnership with our landlords and creditors. We appreciate the support of everyone involved and this outcome provides us with a strong platform to secure the long term future of the business including over 5000 jobs and over 200 restaurants. Our focus is now ‘business as usual’ supporting all of our team members and continuing to provide a Covid-safe restaurant experience for our guests.”