Another popular pizza chain files Chapter 11 bankruptcy
The Orlando, Fla.-based pizza restaurant chain filed for bankruptcy protection for the third time in seven years.
Pizza restaurant owners have dealt with several economic challenges since the Covid-19 pandemic which have caused financial distress requiring operators to sometimes close locations, sell restaurants, and file for bankruptcy protection.
Competition for the pizza dollar is enormous, as the number of pizza restaurants in the U.S. in 2024 amounted to over 74,000. On top of fierce competition, restaurant owners have faced rising labor and food costs driven by inflation that has cut deep into their profits.