Mty Food Group Stock News

MTY Food Group CEO Eric Lefebvre said 45 to 50 Papa Murphy's stores will close after nearly two years of turnaround efforts failed to deliver results.

Papa Murphy's is preparing for a sizeable retreat after parent company MTY Food Group identified dozens of loss-making US restaurants for closure. MTY plans to shut 68 corporate-owned locations across its portfolio, including roughly 45 to 50 Papa Murphy's stores.

GAAP Measures: Segment profits were $59.9 million during the 13 week period ended May 31, 2026 (the “second quarter”), a decrease of $9.4 million compared to the same period in 2025. Impairment charge on right-of-use assets of $7.5 million during the 13 week period as a result of m anagement's decision to close 68 of its corporate locations in the coming months.