About 50 Papa Murphy’s Locations Are Closing and More Could Follow Later This Year

Papa Murphys - 1

One of my all-time favorite pizza places is closing stores.

Take and bake pizza chain Papa Murphy's, based out of Vancouver, Washington, says it plans to close 50 underperforming locations over the next six to nine months. MTY Food Group informed investors during an earnings call that it plans to close 68 underperforming corporate owned restaurants in the US. Between 45 and 50 of those will be Papa Murphy's locations.

MTY Attempted to Revive a Collection of Papa Murphy's Locations About 2-Years Ago

"After nearly two years of efforts and some successful turnarounds in those markets, we came to the conclusion that these markets are probably not appropriate for Papa Murphy's at this time, and we chose to close a lot of these stores in these locations," MTY CEO Eric Lefebvre told analysts.

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The closures start this week as part of the company's efforts to restructure and improve performance. Closures will continue over the next 6-9 months.

"Yeah, it's gonna take between six and nine months to complete, so we're gonna update the markets on where we're at. We have a first series of stores that are scheduled to close next week, and then we're gonna go systematically. We don't want to rush into any of these decisions and cause further damage," said Lefebvre.

What Does This Mean for Papa Murphy's in Tri-Cities?

Photo by Alan Hardman on Unsplash

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While exact locations have yet to be announced, Lefebvre did share that if other Papa Murphy's restaurants continuue to underperform, there will be more closures.