Restaurant franchisor MTY Food Group Inc. is taking a bite out of its own empire, closing 68 underperforming stores over the next nine months.
The Montreal-based company operating restaurants under 80 brands, including Thai Express, Manchu Wok and Bâton Rouge, announced the reduction Friday. It said the closures will span some Papa Murphy’s locations but did not disclose what other banners are part of the cull.
Chief executive Eric Lefebvre put the blame on a lack of sales. The closing locations have collectively lost the company more than $10 million in the last year and for the most part, their performance was “deteriorating.”…