Pizza Hut closes restaurants in Lebanon amid country's currency crisis

Pizza Hut closes restaurants in Lebanon amid country's currency crisis
The dollar crisis in Lebanon has left the giant pizza chain unable to access imports required to make its products, forcing it to close its restaurants across the country.
2 min read
24 May, 2021
Pizza Hut was forced to close its outlets in Lebanon [Getty]

The American restaurant chain Pizza Hut has closed its branches in Lebanon over the crippling economic crisis that has hit the country, local media reported on Monday.

The pizza giant announced the closure of restaurants on social media, with one post promising to make "new memories" in the future, indicating that the step is only temporary.

In a notice posted on its Facebook and Instagram pages, Pizza Hut Lebanon said: "We will never forget the excitement on your face whenever you get your cheese stuffed crust pizza... offering you the best quality and experience has always been our top priority. Until we are able to do that, with a heavy heart, we say goodbye!"

The announcement prompted followers to share their #PizzaHutMemories, where many said they will "hold on to these memories until we make new ones".

TNA has reached out to the restaurant for comment.

Last year, Pizza Hut Lebanon closed its restaurants for a few days due to the late arrival of imported essential main ingredients.

A dollar shortage in Lebanon has forced many businesses to shut down recently, over problems paying importers in dollars.

Lebanon is grappling with its worst financial crunch since the 1975-1990 civil war, compounded by a number of nationwide lockdowns following the spread of Covid-19.

Over the past months, tens of thousands of people have lost their jobs or part of their salaries in various sectors due to the economic crunch, even as the cost of living has soared.

The value of the Lebanese pound has plummeted by half on the parallel exchange market, and poverty has risen to 45 percent, according to official estimates.

The country's economic situation further deteriorated after a massive explosion at Beirut Port last August killed 211 people and left thousands homeless.

The blast led to the closure of dozens of businesses in the capital and made a bad situation even worse for the city’s residents.