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Pieology, a beloved pizza chain Some consider it the “Chipotle of pizza”. filed for bankruptcy,
Little Brown Box Pizza, which owns a California-based chain of restaurants, filed for Chapter 11 bankruptcy protection this month in the U.S. Bankruptcy Court for the Central District of California. Pieology is known for its assembly-line structure that allows customers to customize their orders, like chipotle,
Chapter 11 Bankruptcy A process through which a company can come up with a restructuring plan that allows it to operate while still paying off its debts.
In court filings the company said the value of its debt was at least double its assets. business insiderThe filing also indicated that no one owns more than 10 percent of the company, suggesting there are no current institutional owners, the outlet reports,
The series was founded in 2011 by Carl Chang, brother of tennis champion Michael Chang and former coach.
NBA player Kevin Durant’s company also invested in the company in 2017.
“I went over to one of them and saw how quickly they did it and was really impressed with the quality,” Durant said. espn In 2017. “I just felt like, considering how fast our lives are these days, we don’t want to wait for our pizza anymore.”
According to its website, Pieology has several locations in California, with many of the storefronts concentrated in the Los Angeles area. The chain also has locations in other states, including Florida, Nevada, Oregon and Texas. of restaurant website There are now about 40 locations listed in total.
In 2022, the chain had about 130 locations, according to a Press release Shawn Thompson was announced as the new CEO of the company. Thompson was formerly president of coffee brand Tim Hortons USA.
The chain closed several stores before filing for bankruptcy this month, according to Business Insider.
Independent Pieology has been contacted for comment.