Yahoo Finance
A major pizza chain is preparing to close dozens of restaurants once again as its parent company works to eliminate underperforming locations following what executives describe as a "challenging period" for the business.
The restructuring is part of a broader effort to improve the performance of its corporate-owned restaurants, with the first shutdowns expected to begin during the week of July 13 and continue over the next several months.
The move comes as pizza chains across the industry grapple with higher operating costs, shifting consumer spending, and intense competition.
In recent months, brands including Pizza Hut andPapa Johnshave also announced significant store closures as they reshape their networks.
Now, another well-known pizza chain is joining a growing list of brands reducing their restaurant footprints.
During MTY Group'ssecond-quarter fiscal 2026 earnings call, CEO Eric Lefebvre said the company plans to close 68 underperforming corporate-owned restaurants over the next six to nine months.
Up to 50 of those locations are expected to be Papa Murphy's restaurants, while the remaining closures will affect other MTY Group brands.
Here's some ofmy previous coverageof pizza chain closures: Beloved pizza chain that pioneered deep dish is closing Popular pizza chain closed dozens of restaurants globally After bankruptcy closures, pizza chain shares next steps Founded in 1979, MTY Group (MTY) is one of North America's largest restaurant franchisors, operating more than 80 restaurant brands, including Papa Murphy's, Wetzel's Pretzels, Cold Stone Creamery, and others, across Canada, the U.S., and international markets.
Some restaurants are scheduled toclose permanentlyduring the week of July 13, though Lefebvre said the company is taking a measured approach to minimize disruption for employees, landlords, and suppliers.
"We've been slowly but gradually disposing of some stores where it makes sense for us," said Lefebvre.
"It's not fire sale, but we're also in the process where we can reduce the corporate store portfolio." He added that additionalrestaurant closuresremain possible if other locations continue to underperform.
According to Lefebvre, the company evaluated eachrestaurantindividually based on its long-term financial outlook and local market conditions.
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