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Pizza chain Cici's files for bankruptcy

Salami pizza
Posted at 6:35 PM, Jan 26, 2021

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.