National pizza chain may be on the verge of bankruptcy: report


MOD Pizza may be considering bankruptcy. (Sue Baer/lehighvalleylive.com)

A national fast-casual pizza chain may be on the verge of bankruptcy as it seeks a buyer, according to multiple media reports.

A Bloomberg report found that Seattle-based MOD Pizza is the latest chain restaurant to consider filing for bankruptcy. The Wall Street Journal reported that MOD Pizza has hired legal and financial advisers to work on a potential bankruptcy filing while it seeks a buyer.

“We are working diligently to improve our capital structure and are considering all options to do so. As this is an ongoing process, it would be inappropriate to speculate on its outcome,” a representative for the Department of Defense said in a statement to Nation's Restaurant News.

The media outlet said that by the end of 2023, the Defense Ministry will operate at 553 locations – an increase of 4.1% compared to the previous year.

Earlier this year, the pizza chain closed more than two dozen restaurants in 11 states and the District of Columbia, according to industry publication PMO Pizza.

MOD was founded in 2008 as part of a chain of self-made pizza places that included Blaze.

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