Pizza Chains Close Stores, Slash Jobs

0:00It's March 30th, I'm Cory with the story. This is Durham News today, driven by AI. Pizza chains are hitting the brakes hard after overexpanding like crazy. Papa John's just announced those shutter 300 underperforming spots, with 200 gone by the end of 2026. They're also slashing 7% of their workforce to tighten up. Meanwhile, Pizza Hut's parent company plans to close 250 locations in the first half of 2026 as part of their turnaround. Franchisees are feeling the heat too, filing for bankruptcy to restructure and keep doors open. Take Crest Pizza, a Chicago-style spot out of Texas. A Franchisee in Spring filed Chapter 11 for their two locations in Magnolia and Houston Heights back on March 27th. They list up to $100,000 in assets, but 1 to 10 million in debts. The chain thought they were prime for growth, opening that second spot just last February and eyeing 130 stores by end of 20, 25, but reality had different with other Franchisees

1:04also seeking protection. Even with 37 locations now and plans for 250 more across the South, the Pizza Wars show no mercy. Chains are recalibrating fast to survive the squeeze.