One of the Carolina’s most loved all-you-can-eat pizza buffet has just announced they are filing for Chapter 11 bankruptcy.
The chain was originally founded in 1985 with the goal of becoming the “Best Pizza Value Anywhere.” Today, the buffet boasts around 300 locations in more than 25 states, including over 2 dozen around the Carolinas.
“After a challenging 2020, Cicis management has decided in order to continue the 35-year legacy of Cicis and best serve our guests, team members and franchisees, to restructure under the Chapter 11 bankruptcy process,” a spokesperson for CiCi’s said in an official statement.
In their bankruptcy documents filed yesterday, the company said they had between $10 million and $50 million in assets and $50 million to $100 million in liabilities.
The company is now hoping to find new owners and eventually exit bankruptcy.