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International Business Times UK

Brian Yalung

Pizza Hut Rival Franchisee Files for Bankruptcy After Allegedly Owing Banks Millions Despite Booming Business

Pizza Hut Papa John

A Mountain Mike's Pizza operator reported up to $10 million in debt. (Credit: Cairco | Wikimedia Commons)

A Pizza Hut rival has collapsed into bankruptcy, owing banks and creditors up to $10 million (£7.49 million) — while its total assets amounted to just $50,000 (£37,446), court papers reveal.

Rogue Fare LLC, the franchisee behind five Mountain Mike's Pizza branches in Oregon, filed for Chapter 11 protection at the US Bankruptcy Court in Eugene on 1 July in a bid to reorganise its finances.

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