The pizza restaurant sector has faced economic hardship and several bankruptcy filings in 2024, as a result of the lingering effects of the Covid-19 pandemic, inflation that led to rising food and labor costs, and changes in consumer attitudes toward dining.
Seattle-based Mod Pizza is one chain that faced financial distress and considered a bankruptcy filing in July after closing 27 of its 500 stores. Instead, it found a buyer in Chatsworth, Calif.-based Elite Restaurant Group and continues to operate.
Popular Sonoma, Calif.-based chain Mary’s Pizza Shack on Sept. 10 filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Northern District of California as the final step of a restructuring to convert the business from a single corporation into smaller family-owned units.
MORE:
www.thestreet.com/restaurants/popular-pizza-chain-files-for-chapter-11-bankruptcy
Views: 379