Overview
- MTY announced on its Q2 earnings call that it will close 68 corporately owned locations and begin the first wave the week of July 13, 2026.
- Between 45 and 50 of the closures will be Papa Murphy’s company-owned units that MTY reacquired and tried to revive over the past two years.
- The selected stores collectively lost more than CAD 10 million over the prior 12 months and were flagged after a store-by-store review of sales, outlook and economic profile.
- MTY expects the shutdown program to run six to nine months, will book one-time lease and related costs estimated at CAD 10–12 million, and says removing loss-making sites should improve future margins.
- The move comes as Papa Murphy’s has seen a long decline in U.S. unit count and follows broader 2026 contraction among pizza chains, with customers favoring delivery-first options over the take-and-bake format.