FAYETTEVILLE – A local pizza chain is closing all but one of its locations.

According to the company's website, Eureka Pizza, founded in 1992, is closing all of its locations except the location at 1021 Food Hall at Dickson Street and Garland Avenue on the campus of the University of Arkansas, Fayetteville. Owner Rolf Wilkin said the company once had about 20 locations in northwest Arkansas, the River Valley, Oklahoma and Missouri.

“This decision was not made lightly,” Wilkin said in a statement. “Our commitment to fresh, handmade ingredients has always set us apart, but is extremely labor intensive. With staffing challenges and rising costs, we have been unable to provide our team with the compensation they truly deserve.”

The business is becoming increasingly difficult to manage, Wilkin said Tuesday. The Rogers location closed after it was damaged by the May tornadoes. The last Fort Smith location closed several weeks ago, he said.

The business model no longer works with costly overhead costs, Wilkin said. Food prices have risen dramatically. Late-night dining and delivery has declined dramatically in recent years with the introduction of food delivery apps, he said.

“A few years ago I couldn't have imagined this. But I think it’s really for the better,” Wilkin said. “We had a great run and we’re just happy to go home with our heads held high.”

Wilkin said he owns some of the buildings that housed Eureka Pizza and plans to rent them out. The approximately 40 remaining employees received severance pay, he said.

The on-campus location is part of the university's dining plan and will remain open during the school year, Wilkin said.

“Eureka Pizza has been an institution in the area for three decades,” said Steve Clark, president of the Fayetteville Chamber of Commerce. Almost everyone could enjoy the affordable options the company offered, and Wilkin himself served as an integral part of the community, Clark said.

“He does not give up on the conscious and intentional efforts he has made to participate in the life of Fayetteville,” Clark said.

Survival can be particularly difficult for local restaurants, said Reese Roberts, owner of Leverett Lounge and founder of the Fayetteville Independent Restaurant Alliance. The alliance raises money to support local hospitality workers.

Expenses can pile up and there is a cap on the prices customers are willing to pay, Roberts said. It's difficult to stay out of the red during the summer months when college students leave, she said.

“It’s always a shame to see something close,” he said. “The margins are thin and there isn’t much room for anything to happen.”

Wilkin said he has no plans to retire. He said he may expand his PopUp Drink Thru concept, which has a location in Bentonville. He also owns real estate in the area.

“Everything has a life cycle,” Wilkin said.