Fast_Casual

Financing

Why MOD Pizza is not out of the woods yet

The Bottom Line: The fast-casual pizza chain was sold last week to Elite Restaurant Group. But few who’ve seen the finances believe the company can avoid closing large numbers of stores.

Financing

The broken promise of fast-casual pizza

The Bottom Line: The potential bankruptcy filing of MOD Pizza further illustrates the sector’s challenges, which have worsened coming out of the pandemic.

The fast-casual pizza chain, for years one of the country’s fastest-growing concepts, said it is “exploring all options” to improve its capital structure.

One of the chain’s bankers is pushing back against US Foods’ efforts to garnish its accounts after the distributor won a judgment earlier this year. The reasoning? It has too many garnishment requests.

The 66-year-old family-dining chain is planning a comprehensive overhaul that extends to its menu, operations and look.

Consumer demand for protein is pushing steak to the center of the plate—and the salad bowl—in concepts where you’d least expect it.

The platform company is almost finished assimilating its existing six brands. Now it's time to add to the family, said CEO Kelly Roddy.

Operators say most of them aren't making money and want a break on their royalties. But they also complain about receiving expired cheese from closed stores. "Don't send us moldy product."

The fast-casual chain, working its way through sales and profitability challenges, gave a board seat to an activist investor. But that’s not the only activist it has.

The fast-casual chain blamed rising costs and the fast-food wage in California as it filed its second Chapter 11 in four years. It plans to use the bankruptcy process to find a buyer.

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