34-year-old Pizza Company Hits the Brakes Amid Rising Costs, Changing Tastes

While the global pizza market is projected to hit $340 billion by 2034, individual company successes and failures depend on a complex mix of factors.

Rising food and operation costs, changing customer preferences, new competition, and a shifting market landscape can swiftly sink a well-established brand.

Casual dining giants like Papa John's and Yum! Brands-owned Pizza have recently revealed plans to close underperforming locations, citing flagging sales and narrow profit margins.

Ahead of these heavyweights, Washington-based Smoking Monkey Pizza filed for Chapter 11 protection in May 2026 after California competitor North County Pizza Inc. did the same two months earlier, pointing to mounting debt and dwindling sales.

Millennium Dough Company, a 34-year-old West London-based industrial pizza dough supplier, has been placed into administration – equivalent to Chapter 11 bankruptcy in the UK – after failing to keep up with rising debt and tightening profit margins.

The company, which specialized in long fermentation and craft-flavor dough, was acquired by Aquilla Food Group for an unspecified amount in 2023.

Millennium Dough Company's debt soared from £751,052 to £1.5 million within two years, prompting the administration. Despite reporting £1.7 million profit in the year ending October 2024, the company struggled with rising operational costs and cash flow problems.

As for restructuring, a spokesperson for Quantuma, the firm overseeing the administration process, stated that rising costs and cash flow issues led to the company's collapse.