The operator of Pizza's Hut restaurants in the UK is looking to raise more than £10m to help it cope with increased costs after tax rises on business were announced in last month's Budget.
The money could come from a sale of part of the business, or new investment from existing shareholders.
It comes
amid growing backlash from business owners who warn, external rises in employers' national insurance contributions and the National Living Wage will push up costs for business which employ lots of low-wage workers.
Heart With Smart (HWS) - which operates all 140 UK dine-in Pizza Hut restaurants - will use the money on new technology including touch-screen ordering kiosks and contactless table ordering.
The new features would allow restaurants to save money by operating with fewer staff and are already being trialled successfully in some Pizza Hut outlets, a company insider told the BBC.
They said it would result in reduced staff levels, but the store does not expect a major redundancy programme.
From April 2024 the rate of employers’ national insurance contributions, which are paid by businesses on top of workers’ salaries, will rise from 13.8% to 15%, and the level where contributions start will fall to £5000.
Combined with a
6.7% increase in the National Living Wage from April, and an even bigger rise for 18 to 20-year-olds, HWS expects to see its labour costs rise £4m, or about 14%, next year.
Chancellor Rachel Reeves has previously said businesses "will have to absorb" some of these costs through their profits.