Beloved pizza chain to close up to 50 locations — with first wave of shutters starting today
A Papa Murphy’s franchisor has announced that up to 50 locations will close down after a performance review of the company’s lagging brands. The Canadian franchisor and operator, MTY Group, said in an earnings call that 45 to 50 Papa Murphy’s spots will shut in the next six to nine months after just two short years of the company taking over.
Reported by 1 outlet — New York Post. See all sources ↓
A Papa Murphy’s franchisor has announced that up to 50 locations will close down after a performance review of the company’s lagging brands. The Canadian franchisor and operator, MTY Group, said in an earnings call that 45 to 50 Papa Murphy’s spots will shut in the next six to nine months after just two short years of the company taking over. The popular spot is known for take-and-bake pizza, where customers buy ready-to-eat pizza in-store but then cook it themselves. CEO and President of MTY Group, Eric Lefebvre, said the move is an attempt to unload underperforming locations as the selected spots have lost over $10 million, combined with its other brands, within the past 12 months.
Read the full report at New York Post ↗
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- What's the story?
- A Papa Murphy’s franchisor has announced that up to 50 locations will close down after a performance review of the company’s lagging brands. The Canadian franchisor and operator, MTY Group, said in an earnings call that 45 to 50 Papa Murphy’s spots will shut in the next six to nine months after just two short years of the company taking over.
- How widely is it covered?
- 1 outlet, average source rating 5.0/10.
- When was it last updated?
- just now ago.
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Beloved pizza chain to close up to 50 locations — with first wave of shutters starting today
Sources1TypeCoverageNew York Post