MTY Group, the parent company of Cold Stone Creamery and Wetzel’s Pretzels, has announced plans to close 68 corporate-owned restaurants over the next nine months.Of these, 45 to 50 underperforming Papa Murphy’s pizza locations acquired two years ago will be affected.These closures, which collectively lost over $10 million in the past year, aim to reduce financial losses and improve the corporate store portfolio.

MTY President and CEO Eric Lefebvre emphasized that the decision is a long-term strategy to focus resources on locations and brands with stronger return potential.The restructuring will begin immediately, with the first wave of closures scheduled for the week of July 13.The company has also indicated that further closures or sales may occur in the future.This move reflects broader challenges faced by the fast-food industry, where operational efficiency and profitability are critical.The closures will impact thousands of employees and local communities, raising concerns about job losses and economic effects.Analysts suggest that the decision underscores the need for businesses to adapt to changing consumer preferences and market conditions.While the move may seem drastic, it is part of a larger trend of corporate restructuring to ensure sustainability in a competitive sector.