Shakey’s closes up to 20 Peri-Peri stores amid network restructuring

The restaurant operator said it shut underperforming branches in 2026 while continuing to expand other brands, including Potato Corner.

Shakey’s Philippines has confirmed a major downsizing of its Peri-Peri Charcoal Chicken franchise amid global financial pressures.

The company disclosed to the Philippine Stock Exchange that it closed 15 to 20 underperforming stores in 2026 despite continued expansion across the food conglomerate’s various brands.

“We continue to invest in scaling our network this year, albeit more moderately. We are also restructuring the network of underperforming stores, mainly from the Peri-Peri brand,” the company said.

Shakey’s acquired the Peri-Peri brand in 2019, when it had 21 stores. The brand grew to more than 70 branches by 2023.

Despite the reduction in its Peri-Peri network, Shakey’s opened its 300th store overall in the first quarter of 2026 and reported continued growth in the Potato Corner franchise, opening roughly one store a day globally.

The company said its bottom line continues to recover despite financial pressures brought on by conflict in the Middle East, which has affected fuel prices, logistics costs, and consumer spending.