A major pizza chain is planning to close dozens of restaurants across the nation.
Canadian restaurant franchisor MTY Group CEO and President Eric Lefebvre said during a July second-quarter earnings call that it will close 68 company-owned restaurants across its brands, including 45 to 50 Papa Murphy's locations.
The locations slated to close have collectively lost over $10 million in the last year, Lefebvre said.
The restaurants picked to close were evaluated on a store-by-store basis, a move that could cost the company between $10 and $12 million, Lefebvre said.
Some closures could start as early as next week, though Lefebvre said most are expected to take place over the next six to nine months. It was immediately unclear which specific locations would close.
There are ten Papa Murphy locations in Michigan:
MTY Group said the closings will help them better focus on stronger-performing restaurants. MTY’s large list of brands also includes notables like Wetzel’s Pretzels and Cold Stone Creamery.
There are more than 1,000 Papa Murphy's locations across 34 states, according to franchise disclosure documents.
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