Popular pizza maker closed after Chapter 11 bankruptcy moves forward
The pizza company had to fully shut down, but that may not be the end of its story.
Usually, when a business files for bankruptcy it's a relatively quick process.
Sometimes a company enters Chapter 11 bankruptcy with a plan to emerge from it. In many cases, that means a buyer has placed a "stalking horse" bid.
Related: Popular sports bar restaurant chain shuts down multiple locations
Essentially, that's a minimum offer for the assets of the bankrupt company. The court will generally solicit other offers in order to make sure the most money possible goes to creditors.
There are, of course, other factors. Sometimes the bankruptcy court will factor in whether the buyer plans to continue operations.
If that happens, some employees keep their jobs and vendors have a chance of new orders being placed.
