TL;DR
Papa Murphy's is contemplating a sale of the company after reporting a decline in sales results for the third quarter, including a 2.1% same-store sales drop. The company experienced an overall net loss of $0.6 million and has closed six locations and refranchised nearly thirty in the last year.
Papa Murphy's has reported a decline in sales results for the third quarter. According to a recent article in Nation's Restaurant News, the company saw same-store sales drop by 2.1 across the system and experienced an overall net loss of $0.6 million. Throughout the last year, the brand has closed six locations and refranchised nearly thirty. These results have led the brand to take another look at its strategy and to consider next steps including a potential sale of the company.
“Financial and strategic alternatives may include, but are not limited to, a possible sale of the business. There is no specific timetable for identifying potential transactions or transaction candidates and there is no assurance that any transaction will be completed,” the company said in a statement.
In this story
This story was originally published in 1851 Franchise on November 8, 2018. Burnaze summarizes and links to the original reporting.
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