MOD Pizza

Leadership

CEO Beth Scott has departed from MOD Pizza

Other members of the fast-casual pizza chain's executive team also have exited following the acquisition by Elite Restaurant Group, according to sources familiar with the deal.

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.

Elite Restaurant Group has been an active buyer over the years. But what are MOD's sister brands within the group's portfolio now?

In a deal that aims to avoid bankruptcy, the Bellevue, Washington-based fast-casual pizza chain has agreed to sell 100% of its equity to a Southern California-based group that has owned brands like Slater's 50/50, Project Pie and Patxi's Pizza.

The Bottom Line: The fast-casual pizza chain's apparent downfall may color the industry's condition more than Red Lobster. But MOD was a victim of its own decisions.

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.

Five units were in California but the fast-food wage there was not to blame, the fast casual said. The closed restaurants in 10 states and the District of Columbia were "underperformers."

Beth Scott replaces co-founder Scott Svenson in the role. He is shifting to an executive chair position.

The fast-casual chain is launching a new coalition with non-profits to broadly expand job placement and support for the previously incarcerated and workers with intellectual and developmental disabilities.

With chicken prices dropping, wings and pizza are being paired for game-day menus.

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