Popular pizza restaurant chain teeters on brink of bankruptcy
Why is Mod Pizza on the brink of bankruptcy?
Mod Pizza is reportedly preparing for a potential bankruptcy filing due to increasing industry challenges. The company has hired legal and financial advisers to explore strategic options, including a possible sale or bankruptcy filing2. Factors contributing to their financial struggles may include the pandemic, inflation, and shifts in consumer spending.
How many locations does Mod Pizza currently have?
Mod Pizza currently has more than 500 locations across the United States and two locations in Canada. The company has experienced rapid expansion since its founding in 2008, with a focus on customizable, made-on-the-spot personal pizzas. However, recent financial struggles have led to closures of underperforming stores and potential bankruptcy filing preparations.
What was Mod Pizza's revenue last year?
Mod Pizza's revenue last year was $398 million. The company has experienced significant growth in digital sales, with digital revenue accounting for 40% of sales in 2020. Additionally, Mod Pizza has expanded its store base and deepened its commitment to making a positive social impact amidst the challenges faced by the restaurant industry.