While the global pizza market is projected to grow from $282 billion in 2025 to more than $340 billion by 2034, the success or failure of any individual company depends on a wide range of not always predictable factors.
The rising cost food and operations, changing customer tastes, new competition in a particularly saturated location and, above all, a changing market can sink a company that otherwise had everything it needed.
Pizza giants Papa John’s and Yum! Brands-owned Pizza have both recently confirmed plans to close dozens of underperforming locations to narrow profit margins amid flagging sales in 2025.
Pizza dough supplier Millennium Dough Company enters administration
In May 2026, Washington-based Smoking Monkey Pizza ended up filing for Chapter 11 protection two months after California competitor North County Pizza Inc. did the same. In each case, the company named rising debts as flagging sales could no longer justify the number of operating locations opened during more profitable times.
The latest pizza company to enter administration, or the United Kingdom equivalent closest to Chapter 11 bankruptcy, is West London-based Millennium Dough Company. The company was established in 1992 in the Greenford suburb and created industrial pizza dough for use in various restaurants, including several major pizza chains in the United Kingdom, hotels and commercial suppliers.
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The dough company advertised itself as specializing in long fermentation and craft-flavor dough. It was also initially known as Millennium Food Services Limited before rebranding to the current name in 2022.
In 2023, the company was acquired by holdings company Aquilla Food Group for an unspecified amount.
As first reported by local press, Nicholas Charles Simmonds and Chris Newell of advisory firm Quantuma Advisory Limited were appointed as joint administrators overseeing the process while the procedure became inevitable after the Millennium’s debt more than doubled from £751,052 ($1 million USD) in 2023 to £1.5 million ($2 million USD) at the start of 2026.
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Why is Millennium Dough Company, a successful pizza dough producer, in administration
The company reported bringing in £1.7 million profit in the year ending on October 2024 but quickly started running up heavy debts amid tightening profit margins driven by rising operating costs and the wider market pressures on the food and hospitality industries over the last year.
In a press statement, the team at Quantuma said that rising costs and cash flow problems pushed Millennium into administration. The company itself has not released a statement on its financial situation so it is not immediately clear whether and how it intends to restructure.
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Unlike with a Chapter 11 filing in the U.S., administration in the UK automatically requires a company to hand over business operations to independent administrators.
“When a company goes into administration, they have entered a legal process with the aim of achieving one of the statutory objectives of an administration,” Companies House, the British government agency that incorporates and dissolves companies, states of the process on its website. “This may be to rescue a viable business that is insolvent due to cashflow problems.”
Related: Another airline files for bankruptcy protection, cancels flights
