Papa John’s UK recently announced the closure of around 10% of its restaurants, with 43 locations set to shut down across England due to underperformance. The decision was made following a review of operations, identifying sites that were no longer financially feasible for the company to sustain.
This move by Papa John's reflects a strategic effort to optimize its portfolio and reallocate resources towards bolstering the profitability of its remaining UK sites. While the exact number of job losses resulting from the closures was not specified, the company's UK managing director emphasized a commitment to supporting affected team members throughout the transition process. Papa John's plans to reinvest the proceeds from the closures into enhancing its existing locations and expanding into non-traditional sites like holiday parks.
In a parallel development, Revolution Bars, the parent company of Revolucion de Cuba, is exploring strategic options to address challenges in light of external factors affecting trading. The company is contemplating restructuring initiatives or a potential sale of some or all of its group. Revolution Bars highlighted the impact of the cost of living crisis on trading, particularly affecting the younger demographic and the performance of the Revolution brand. Discussions are underway with key shareholders and investors to explore additional funding opportunities and navigate the evolving market conditions.