CiCi’s Pizza Files for Bankruptcy
The home of the unlimited pizza buffet has fallen victim to the COVID-19 pandemic.
CiCi’s Pizza’s parent company, CiCi’s Holdings Inc., filed for Chapter 11 bankruptcy due to the decline in in-person dining since the coronavirus first hit our shores early last year, according to Bloomberg. Over 85% of the buffet’s sales come from on-site dining.
The restaurant runs 11 pizza buffets outright and franchises over 300 more. The bankruptcy filing does not include the franchisees.
CiCi’s will be able to continue operations while awaiting approval of a plan to repay creditors. Court papers show that the company intends to exit bankruptcy quickly, asking for approval of its exit plan on March 3.
For those of us who were looking forward to engorging ourselves on CiCi’s after the pandemic, there’s still hope. As of right now, the company doesn’t plan on shutting down any of its locations.