Pizza chain confirms 74 stores will go

PAPA John’s yesterday confirmed that it will be closing 74 of its UK takeaway outlets after facing severe financial struggles in the last 12 months.

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The closures come after the well-known pizza restaurant disclosed a pretax loss of £21.8 million for its latest financial year, compounding a £19.2m loss reported in 2023.

Newly-filed accounts with Companies House show the closures come after the company’s revenue also took a hit, dropping from £95.9m to £88.6m.

The last time Papa John’s saw a pretax profit in the UK was in 2021, when it posted £8.1m, along with a turnover of £102.3m during the same period.