The pizza dining sector has faced economic issues over the last year that have led to 100s of closings and bankruptcy filings.
Restaurant chains have blamed fierce competition, rising labor and food costs, and high lease rates, which have required several companies to launch restructurings.
Pizza chains close 100s of stores
Papa John’s shared in its fourth-quarter earnings call that it will close 300 underperforming restaurants, including 200 by the end of 2026. The company did not reveal a deadline for closing the remaining 100.
Papa John’s also said it would cut 7% of its workforce…