Huge pizza chain operator closes over 200 locations

Popular pizza chains have battled through financial distress over the last five years, dealing with higher labor and food costs caused by rising inflation, a dramatic increase in interest rates that raised the cost of debt, and long-term effects from the Covid-19 pandemic that are still causing problems for restaurant operators.

Restaurants were dealt crippling cost increases from 2019 to 2024, as food costs for the average restaurant increased by 29% and labor costs rose by 31% in the same period, according to the National Restaurant Association.