National Pizza Chain Saved From Bankruptcy After Quietly Closing 44 Locations

While some cities now have one less pizza option, others can celebrate one of their favorites that will be sticking around for a little longer.

Chain Restaurants In Peril

It's been a struggle for several recognizable chain restaurants in 2024. And the list keeps growing.

So far, the year has brought us reports of Boston Market being "near death." Hardees closed multiple locations in the Midwest. In June, it was time for Hooters to make a move as it shuttered dozens of locations across the U.S.

The struggling chain that has garnered the most attention in 2024 has been Red Lobster. Rumors of a possible bankruptcy filing by the seafood restaurant started to swirl in April.

A month later, the news hit Red Lobster had filed for Chapter 11 bankruptcy as it began to close some locations. The company is still hoping to be saved by an investment firm that is exploring the best path forward for the Red Lobster brand.

That's also what happened to another once-popular chain restaurant that is now looking to flourish after closing locations.

Pizza Chain Gets Second Chance

Somewhere along the way, people decided every type of food needed to be made on-demand in a fast casual setting. Blame Chipotle, or maybe even Subway for asking customers what toppings they want as they hold up the line.

Pizza was no different. Along with Blaze Pizza, MOD Pizza (Made On Demand Pizza) has tried to grab a share of the market with those who want their pizza fast and exactly how they want it.

READ MORE: The Absolute Worst List Of The 10 Best U.S. Cities For Pizza

MOD Pizza came into the year with a little more than 500 locations scattered around the U.S. The chain would later close 44 of those restaurants.

USA Today reported the chain was believed to be near bankruptcy but has since been acquired by Elite Restaurant Group.

Not much is known about the new owner. Restaurant Business reached out to the company, but was unable to get much info on its plans for MOD Pizza.

"Some observers, however, blame MOD's troubles of late on its too-rapid expansion," the outlet reported. There are no further reports on additional restaurant closures at this time.