59-year-old pizza chain franchisee shuts locations, no bankruptcy

An economic downturn in the fast-food pizza dining sector has led to franchisees closing hundreds of locations and, in some cases, filing for bankruptcy protection. Popular pizza chain Papa John's shared in its fourth-quarter earnings call that it will close 300 underperforming restaurants, including 200 by the end of 2026. Papa John’s also said it would cut 7% of its workforce. The company did not reveal when it will close the remaining 100 restaurants. Domino's Pizza Enterprises, the largest franchise ...