Popular pizza chain shutting down more than 200 locations but your local store is probably safe
Domino’s Pizza Enterprises, the pizza chain’s largest franchisee, will close 205 low-performing restaurants around the world.
Domino’s Pizza Enterprises holds the master franchise rights to the Domino’s brand and network in Australia, New Zealand, Belgium, France, The Netherlands, Japan, Germany, Luxembourg, Taiwan, Malaysia, Singapore, and Cambodia, reports QSR.
The closures were first announced in late February and will generate an estimated $9.4 million according to Forbes Australia.
The company will shutter 172 Domino’s locations in Japan between April and June.
According to The Street, Domino’s Pizza Enterprises conducted an operational and financial review to improve profitability, strengthen franchise partnerships, position the business for long-term growth, and improve shareholder returns, which led to the location closings.
“Japan is an attractive market for quick service restaurants and pizza, with significant long-term upside for Domino’s,” the franchisee’s Group CEO Mark van Dyck said in a statement. ”Some of our COVID-period expansion resulted in stores that simply weren’t optimal based on our current customer proposition and removing them will strengthen our network.”