Robert Besser
13 Aug 2022, 15:06 GMT+10
MILAN, Italy: Milano Today has reported that seven years after launching in the country, American pizza giant Domino's has now closed all of its stores.
The company, franchised by EPizza SpA, had failed to win over Italians, who preferred local options.
According to a document filed in a Milan court, after struggling to be profitable during two years of COVID-19 pandemic restrictions, EPizza SpA filed for bankruptcy in April.
Italian food industry publication Food Service reported that the company closed all its Domino's stores on 20th July.
According to ePizza, it lost out to competition from food delivery apps, while others attributed its failure to its brazen attempt to infiltrate the motherland of pizza with American fast food.
The court filing said the Milan-based company faced "unprecedented competition" from local restaurants that started using delivery services, such as Glovo, Just Eat, and Deliveroo, during the pandemic.
In a document attached to the court filing, Domino's said that ePizza's failure last year was due to the "significantly increased level of competition in the food delivery market with both organized chains and 'mom & pop' restaurants delivering food to survive."
After COVID-19 restrictions were eased and consumers began visiting sit-down restaurants again, the company faced further troubles, the document added.
In 2015, Domino's signed a 10-year franchising agreement with ePizza, aimed at introducing a large-scale pizza delivery service to the country, which was absent at that time, the court filing stated.
Get a daily dose of Buffalo Breeze news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Buffalo Breeze.
More InformationWASHINGTON D.C.: To fix issues that could lead to further bank failures in the U.S., such as the collapse of ...
ARLINGTON, Virginia: This week, Reuters reported that Boeing delivered 46 narrowbody 737s jets in November. The total brings the U.S. ...
NEW YORK, New York - A positive employment report from the U.S. Bureau of Labor Statistics indicating a fall in ...
DALLAS, Texas: This week, AT&T said that by late 2026, it will use open radio access network (ORAN) technology for ...
NEW YORK: This week, ratings agency Moody's warned that it could downgrade China's credit rating, citing costs to bail out ...
NEW YORK, New York - AI set the scene for solid gains in technology shares on Thursday. Demand for Alphabet ...
ISLAMABAD - Afghanistan's Taliban government denounced the United States Saturday for imposing fresh sanctions against two of its leaders for ...
Washington DC [US], December 9 (ANI): Makers of the horror drama show 'Stranger Things' are all set to begin production ...
Washington DC [US], December 9 (ANI): The action drama TV-series 'Station 19' is coming to an end. The upcoming season ...
The president-elect has pledged radical policy measures to deal with the financial crisisArgentina's president-elect Javier Milei is facing a huge ...
Frankfurt [Germany], December 9 (ANI): Pashtuns have launched worldwide protests against the arrest of Manzoor Pashteen, the chief of the ...
Moscow [Russia], December 9 (ANI): Russia criticized the United States after it vetoed a UN Security Council resolution calling for ...