The pizza chain Pizza Hut is getting a massive infusion of cash from a U.S. government fund, which it will use to restructure its business and refinance its debt.
The Federal Deposit Insurance Corporation is funding the cash infusion as it prepares to approve a new mortgage for Pizza Hut, which has about $100 billion in debt.
It also has about a billion dollars in assets that could be used to pay down debt.
“We are pleased to receive additional liquidity from the FDIC as part of our capital plans,” said Peter Schulman, chief executive officer of Pizza Hut.
“We are confident that the new financial support will enable us to meet our new and evolving financial requirements in the future.”
The FDIC will provide up to $300 million of the cash to Pizza Hut to repay the $80 million of debt it owes it, said Michael Peevey, a spokesman for the FDIA.
The bank will also pay $1 million a month in cash to its subsidiaries, he said.
The company is also getting a loan guarantee from the Treasury, and will be able to use the funds for any debt payments.
The FDIA has been helping Pizza Hut restructure since 2015, when the pizza chain had about $5 billion in liabilities and $100 million in assets.
The company had about 5,000 employees and was struggling to get a profitable pizza business going.
The bailout, which will be paid for by a $200 million loan, will be used for restructuring Pizza Hut’s debt, including its $100-billion debt.
The total cost of the restructure is estimated at $300 billion, according to a recent Reuters estimate.
It will also help Pizza Hut refinance debt it has already issued.
It will also buy back some of the debt, which could increase the company’s cash flow and help it pay down the debt.
Pizza Hut said last month it planned to sell some of its businesses to other businesses.
The bankruptcy filing on Friday means that Pizza Hut will continue to operate under a series of bankruptcy filings, which have helped the company remain profitable.
The pizza maker, which went public in March 2016, has struggled to keep pace with fast-growing technology companies like Apple Inc. and Amazon.com Inc. that are increasingly relying on online delivery services.
In a recent earnings report, Pizza Hut disclosed that it lost $5.2 billion in the first nine months of the year, a net loss of $1.2 million for the quarter.
The restaurant chain also said it has spent $100.3 million on acquisitions so far this year, but that many of those have been in areas where it could not compete, like online ordering.
In January, Pizza Pizza filed for Chapter 11 bankruptcy protection.
In April, the company was able to avoid the sale of its $50 billion in assets and pay $13 billion in cash.