Papa John’s stock (NASDAQ:PZZA) is down more than 7% on Wednesday as the company had a deal in place to sell its assets, but the deal fell through, according to a Tuesday report.

The Wall Street Journal reported that the pizza chain was being considered by Trian Management Funds, which had a bid in place for the company. However, the company changed its mind late in the process and said it is no longer interested in bidding for the pizza chain.

The publication did say that there are other businesses that are interested in taking a stake in Papa John’s, although there aren’t any interested in buying the entirety of the pizza chain at the moment. Papa John’s stock suffered as a result as the company needs to find a way to bring investors on board with a turnaround plan in order to continue competing with other big names in the pizza world.

The company’s struggles begin following a July news story in which founder John Schnatter resigned from his role as chairman following news that he had used the N-word on a conference call. The company said earlier in November that its North America same-store sales had declined by 9.8% during its most recent quarter, while its revenue slipped 15.7% from a year earlier.