The Capri Pizza chain, known for its signature caesarian pizza, will close its doors in New Jersey by the end of 2018, closing just weeks before the state’s capitol rotates.
The chain, which has more than 500 locations across the U.S., has been struggling to make ends meet as its popularity has waned in recent years.
Its stock has declined 40 percent this year as it grapples with declining profits.
The company, founded in 1971, said it plans to close about 20 percent of its locations.
Its CEO, Paul Mancini, told The Associated Press in an email that the chain had no plans to open a second location in New Orleans.
He did not respond to a request for comment.
The move comes less than a month after the New York State Legislature passed a law requiring capri restaurants to pay $1,000 a year to the state for a portion of their operating costs.
The measure passed in the wake of the fatal shooting of a man by a police officer last month.
The New Jersey law also requires the chain to provide a financial analysis of the potential impact of closing, according to the company’s website.CAPRI Pizza has been a cornerstone of the New Jersey pizza scene since its inception in 1971.
It is owned by Manci and his wife, Patricia, who bought it in 2003.
The Mancis have long been a vocal supporter of the city’s capris community, and many of its residents still consider themselves capri fans.CAPRICIANS are expected to celebrate the news by gathering in nearby Hoboken to celebrate and pay their respects to the capris-loving restaurant.