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In a court case Monday night, Cici’s blamed its Chapter 11 filing on the “unpredictable and unprecedented scale” of the pandemic, which has decimated its bottom line and customer demand because it relies heavily on its rooms. eat.
The Texas-based company has more than 300 locations in 26 states – a big drop from the roughly 650 restaurants it owned about a decade ago. Cici’s dropped “pizza” from its name in 2015 and expanded its menu to focus on its limitless options of soups, salads and desserts. The company was bought by Arlon, a food and agriculture investment company, a year later.
Unlike other pizza chains, Cici’s did not have delivery. The company said the home catering trend “poses significant challenges” to its buffet model and admitted that it “needs to work harder and more creatively” to differentiate itself from its competition.
Cici has between $ 50 million and $ 100 million in debt. The chain struck a deal in December for its main lender, D&G Investors, to buy the company and its $ 82 million in debt.
The pandemic has decimated the restaurant industry. Restrictions on indoor dining and economic difficulties in making money through delivery or take out have forced a number of chains to file for bankruptcy in recent months, including Sizzler USA, Friendly’s, California Pizza Kitchen and Vapiano.
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