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9. Cici’s Pizza. Known for its pizza buffet, Cici's filed for bankruptcy in 2021 as buffet-style dining lost popularity, especially during the pandemic. The chain has since shifted gears to ...
Cicis offers many additional items including chicken wings, pasta, salads and soups, and desserts are abundant with dessert pizzas, cinnamon buns and fudge brownies. Cicis filed for Chapter 11 bankruptcy in 2021 due to the effects of the COVID-19 pandemic; it had not benefitted from delivery due to its buffet model. It had recently reached an ...
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Showbiz Pizza's primary rival, Pizza Time Theatre, filed for Chapter 11 bankruptcy in 1984. [8] Its assets, including the Chuck E. Cheese's restaurant chain, were purchased by Brock Hotel Corporation in May 1985. [9] The two pizza restaurant subsidiaries merged, forming ShowBiz Pizza Time, Inc. – a combination of the two previous company names.
[5] On June 5, 2023, SSCP Management Inc., which is the owner of Cicis Pizza and Roy's, and a franchisor of Applebee's and Sonic Drive-In, won a bankruptcy auction bid to acquire Corner Bakery Cafe for nearly $15 million. [6] In 2024, Corner Bakery Cafe reported that its average unit sales have surged in recent months, increasing by around ...
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Sizzler filed for Chapter 11 bankruptcy in 1996 ("to escape costly leases on unprofitable restaurants"), and closed over 130 of its locations. [6] [7] [8] The company reemerged from Chapter 11 in 1997. During the late 1990s, new management upgraded the quality of food and increased prices. Twenty one locations closed in 2001.
Chapter 13 bankruptcy: Chapter 13 allows a distressed debtor who has regular income, and total secured and unsecured debt of no more than $2,750,000, to maintain control of their assets while ...