US EditionPapa John's Closed 74 UK Stores as It Hit Financial Issues - Liverpool Echo
UNITED KINGDOM, AUG 4 – Papa John's UK closed 74 stores due to rising costs, staff shortages, and geopolitical issues, reporting a £21.8 million pre-tax loss for 2024, company statements show.
- Papa John's UK closed 74 pizza outlets during 2024, ending the year with 457 locations across the country.
- The closures resulted from serious financial difficulties, poor restaurant performances, wrong locations, and no business case to keep stores open.
- Throughout 2024, the company navigated global disruption, geopolitical issues, staffing shortages, and rising commodity costs while trying to protect jobs as long as possible.
- The British division posted a pre-tax loss of £21.8 million for the latest financial year, following a £19.2 million loss in 2023, with revenue declining from £95.9m to £88.6m.
- Chris Phylactou, who leads Papa John’s operations in the UK, revealed that the company has stopped operating at a loss and is aiming to achieve profitability again by 2025, attributing this progress to tough decisions made during a challenging period.
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