MOD Pizza

Leadership

MOD Pizza's plan to stabilize the business: They're working on it

With a new leadership team in place, the fast-casual pizza chain is starting to take steps to grow top-line sales and set the tone and vision, says its new VP of marketing.

Food

MOD Pizza rolls out new tiered pricing options

New owner Elite Restaurant Group says the move is designed to offer more options for value.

Elite Restaurant Group said it has hired a specialist to assist with a comprehensive effort to sell locations nationwide to franchise operators.

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.

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."

  • Page 1