Pizza chain to close up to 50 locations as sales slump
AI Summary
MTY Food Group is closing 45 to 50 of its Papa Murphy's stores due to a persistent sales slump despite two years of intensive turnaround strategies. This move underscores the challenges facing the chain as it struggles to regain its former market strength. With these closures, the company aims to streamline operations and focus on more profitable locations, signaling a shift in its business model and raising questions about the future viability of struggling chains in the competitive fast-food industry.
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