All-you-can-eat pizza buffet Cici’s files for bankruptcy

D&G investors will purchase the company in December along with its $82 million in debt

Pizza line at Cici's

Cici’s, the restaurant chain best known for its all-you-can-eat pizza, has filed for bankruptcy on Monday.

Bankruptcy filings show Cici’s placed blame on the coronavirus pandemic and the in-person dining restrictions that came from it.

The pizza chain filed for Chapter 11 protection in U.S. Bankruptcy Court in Dallas on Monday with a prepackaged plan of reorganization supported by lender D&G Investors LLC, the Wall Street Journal reports.

Cici’s has 318 locations across 26 states in the U.S. and the chain relies heavily on its dining rooms. Unlike other pizza chains, Cici’s struggled to make delivery possible during the pandemic due to its buffet-style dining model.

According to bankruptcy filings, the chain said it had between $10 million and $50 million in assets with $50 million to $100 million in liabilities.

Cici’s came to an agreement in December for its primary lender, D&G investors, to purchase the company and its $82 million in debt.


About the Author: