WASHINGTON — Pizza Hut's parent company, Yum! Brands announced it is considering "strategic options" for the chain, which could include a possible sale.

Yum! Brands, which owns Pizza Hut, Taco Bell and KFC, announced on Tuesday that it would launch a "formal review of strategic options for the Pizza Hut brand."

"The Pizza Hut team has been working hard to address business and category challenges; however, Pizza Hut’s performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum! Brands,” Yum! Brands CEO Chris Turner said in a statement. “To truly take advantage of the brand we’ve built and the opportunities ahead, we’ve made the decision to initiate a thorough review of strategic options.”

Turner said that

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