A major fast food chain has closed 74 of its stores in another blow to the British economy.
Papa John's has confirmed it will be shutting down dozens of locations after experiencing financial woes in the last year.
Earlier today, the company confirmed Today losses for the last financial year before tax jumped to £21.8million, up from £19.2 million.
Furthermore, Papa John's sales also slipped rom £95.9million to £88.6million, continuing a period of sales drops since 2021.
Papa John's closed dozens of locations last year
| GETTYIn the last financial year, the struggling pizza chain operated in 457 locations across the UK, which is down from 524 the year prior.
The company has blamed the rising cost of business, staff shortages and geopolitical tensions for the looming round of closures.
Even with this trend of locations shutting down, Papa John's has still been able to open seven new stores in the last 12 months.
In a statement, the company stated: "In 2024 we continued to navigate the effects of global disruption; ongoing geopolitical issues, staffing shortages and rises in commodity costs.
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Britain's high streets have been hit by a wave of store and restaurant chain closures | PA"Whilst there was an improvement in consumer confidence, this remains below pre-pandemic levels with consumers more cost-conscious and more risk averse."
Speaking to investors in January 2025, the restaurant chain confirmed it was planning to shut down more underperforming locations to bolster profits.
Last March, Papa John's announced that 43 sites would close for good after a consultation process from mid-May that year.
It has since been confirmed that 31 more Papa Johns restaurants were earmarked for closure and eventually axed.
This comes amid a wave of store and bank branch closures sweeping Britain's high streets.
While the full list of Papa John's restaurant closures has been unveiled, the 43 locations that ceased operating in May 2024 have been confirmed.
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The high street has been hit with store closures in recent months | PAHere is a list of the 43 Papa John's closures confirmed from May last year:
- Barnsley, South Yorkshire
- Bebington, Merseyside
- Bexhill, East Sussex
- Billericay, Essex
- Bromley, Greater London
- Coulsdon, Greater London
- Cricklewood, Greater London
- Darlington, County Durham
- Doncaster, South Yorkshire
- Durham, County Durham
- East Dulwich, Greater London
- East Grinstead, West Sussex
- Eastbourne, East Sussex
- Hailsham, East Sussex
- Harringay, Greater London
- Harrogate, North Yorkshire
- Hendon, Greater London
- Horsham, West Sussex
- Lancaster, Lancashire
- Leeds Meanwood, West Yorkshire
- Liverpool West Derby Road, Merseyside
- Middlesbrough, North Yorkshire
- Mottingham, Greater London
- Northwood Hills, Greater London
- Peacehaven, East Sussex
- Peckham, Greater London
- Penge, Greater London
- Putney, Greater London
- Redhill, Surrey
- Rochdale, Greater Manchester
- Rotherham, South Yorkshire
- Ruislip, Greater London
- Runcorn, Cheshire
- Scunthorpe, North Lincolnshire
- Sittingbourne, Kent
- Southport, Merseyside
- St Helens, Merseyside
- Stoke Newington, Greater London
- Tunbridge Wells, Kent
- Upminster, Greater London
- Watford St Albans Road, Hertfordshire
- Whitton, Greater London
- Wimbledon, Greater London.