8 Papa John’s Pizza Stores Suddenly Shut Doors

All locations were in North California

   

8 Papa John’s Pizza Stores Suddenly Shut Doors

A Northern California Papa John’s (PZZA) franchise company is filing bankruptcy, taking eight of the pizza restaurants down in the process.

The stores are operated by APNA Investments, a franchise company.

From Restaurant News:

A note reportedly posted on the doors of the restaurants blamed “circumstances beyond our control.” The note also said a bankruptcy filing was anticipated and recommended that employees seek unemployment compensation.

The units were located in Sacramento, as well as the nearby towns of Roseville, Rocklin, Folsom, Vacaville and Fairfield. One unit reportedly operated by the franchisee remained open this week in Sacramento, but calls to the restaurant’s operators were not returned at press time.

“Papa John’s was surprised to learn yesterday that APNA Investments, a Sacramento-area franchisee, had made the sudden decision to close their restaurants,” company officials wrote on the Papa John’s Facebook page. “We are also disappointed that the franchisee cannot pay its employees their final paychecks; we encourage those affected to contact the franchise owners to determine their options.”


Article printed from InvestorPlace Media, http://investorplace.com/2013/09/8-papa-johns-pizza-stores-suddenly-shut-doors/.

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