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Pizza chain Cici's files for bankruptcy

Salami pizza
Posted at 6:35 PM, Jan 26, 2021
and last updated 2021-01-26 20:02:23-05

Cici's, the popular pizza chain located in 26 states across the U.S., has filed for bankruptcy.

According to CNN, Cici's blames the coronavirus pandemic, the company stated in a court filing, because they heavily rely on its dining rooms to make a profit. Still, due to the pandemic, it's decimated their bottom line.

CNN reported that Cici's hadn't made delivery an option due to its buffet-style dining.

A decade ago, Cici's had over 650 restaurants. Now, they have about 300 locations.

According to CNBC, Cici's has between $10 million and $50 million in assets and $50 million to $100 million in liabilities.

In December, the company agreed with its primary lender, D&G Investors, to purchase the company and its $82 million in debt.