Pizza Hut may be put up for sale as Yum Brands announced a formal review of strategic options for the struggling pizza chain.

Despite a global presence of nearly 20,000 stores in over 100 countries and international sales growth of 2% in the first nine months of the year, U.S. sales—which account for nearly half of revenue—fell 7%.

Challenges include large, outdated dine-in locations and shifting consumer preferences toward fast pickup and delivery, compounded by a major franchisee filing for bankruptcy in 2020.

Yum CEO Chris Turner said exploring options outside the company could better unlock Pizza Hut’s full value, The Hill has reported.

Shares of Yum Brands rose nearly 7% in early trading following the announcement.