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Pizza chain Papa John’s has revealed its decision to close down approximately 10% of its UK restaurants, attributing the closures to underperformance.
The company conducted a comprehensive review of its operations, pinpointing locations that were deemed “no longer financially viable” as targets for closure.
The closures will affect 43 sites across England, spanning from Harrogate, North Yorkshire to St Helens, Merseyside, Billericay, Essex, and Eastbourne, East Sussex. While Papa John’s has not specified the exact number of job losses resulting from these closures, UK managing director Chris Phylactou emphasized the company’s commitment to supporting affected team members throughout the process. Phylactou stated, “Our priority is our team members, who will be fully supported throughout this process. Our goal is to work with impacted team members and attempt to find redeployment opportunities where available.”
This strategic move aligns with Papa John’s overarching goal of optimizing its portfolio and reallocating resources towards enhancing the profitability of its remaining UK sites. The company intends to invest the proceeds from the closures into its remaining locations, with plans to expand further into non-traditional sites such as holiday parks. Papa John’s also hinted at forthcoming collaborations with other major retail partners in the near future.
Meanwhile, Revolution Bars, the owner of Revolucion de Cuba, has announced its exploration of strategic options to improve the future prospects of the group. Following a challenging period marked by external factors impacting trading, Revolution Bars is considering restructuring initiatives or a potential sale of all or part of the group. The company disclosed ongoing discussions with key shareholders and investors regarding additional funding avenues.
Revolution Bars cited the cost of living crisis as a significant factor contributing to underperformance, particularly affecting the younger demographic, which has impacted the Revolution brand’s trading performance. As the company navigates these challenges, it remains focused on devising solutions to enhance its competitiveness and adapt to evolving market conditions.
