business

Domino’s Pizza loses the battle in Italy and closes all its franchises

Written by ebookingservices

After seven years of presence in Italythe American fast food chain Domino’s Pizza has closed its almost 30 branches after failing to conquer the palate of the locals.

EPizza SpA, the franchise operator of the Domino’s brand (DMPZF) in Italy, filed for bankruptcy in Aprilafter struggling to make enough sales during two years of pandemic restrictions.

“We attribute the problem to significantly higher level of competition in the food delivery market with organized chains and ‘mom and pop’ restaurants (traditional venues) delivering food, serving and restaurants reopening post-pandemic,” ePizza said in an investor report accompanying its results. of the fourth quarter of 2021 and that collects the economic press of the United States.

American style

The American chain entered Italy in 2015 through a franchise agreement with ePizza SpA and planned to distinguish itself from the enormous local offer with a service of national delivery with popular pizzas in the USA like Hawaiian, which includes pineapple, or chicken wings.

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In April, a Milan court granted the company judicial protection from creditors for 90 days, according to an ePizza statement seen by Bloomberg.

The company had a debt of 10.6 million euros at the end of 2020according to the latest audited annual reports accessed by the media.

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