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Papa John's to Close 300 Underperforming Locations by 2027

2/27/2026

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Summary

Story summary

Papa John's (the pizza chain) plans to close about 300 North American restaurants, roughly 9% of its locations.
CFO Ravi Thanawala said the move follows a strategic review that identified underperforming outlets without a viable improvement path.
Most closures will occur in 2026, with some extending into 2027.
The company aims to expand refranchising, reducing company-owned restaurants to a mid-single-digit share to cut costs.

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Story summary

Papa John's (the pizza chain) plans to close about 300 North American restaurants, roughly 9% of its locations.
CFO Ravi Thanawala said the move follows a strategic review that identified underperforming outlets without a viable improvement path.
Most closures will occur in 2026, with some extending into 2027.
The company aims to expand refranchising, reducing company-owned restaurants to a mid-single-digit share to cut costs.