Good News, Pizza Lovers — Cicis Isn't Going Anywhere
The buffet chain is officially out of bankruptcy and under new ownership.
Remember Cicis Pizza? Back when the idea of a buffet didn't elicit major public health concerns, Cicis tested the theory that quantity could beat quality when it came to serving up pizza.
While one could argue that their bet on a buffet-style pizza place exactly pan out given a recent bankruptcy filing, Cicis swift and successful emergence from Chapter 11 bankruptcy proceedings suggests there may just be some signs of life after all.
According to a press release, Cicis Enterprises did some financial maneuvering to sell itself to a new set of investors, who helped restructure the chain to make its operations a bit more viable. The new group now owns more than 200 cicis locations, and operations at those locations will continue.
Despite the unfortunate intersection of a high-touch business model and a global pandemic, the ownership group has reasons to believe that Cicis can not only survive, but thrive down the road. The release notes the chain's "persistent guest loyalty" despite Covid-19, aided by factors like their MyCicis app, tech-facilitated deliveries, and curbside pickup.
Those factors have Cicis' newest investors hopeful that they're buying in at the perfect time, especially as life gradually gets back to normal over time.
"While the pandemic has been a difficult time for many restaurant brands, not just Cicis, the brand does have staying power because of the strength of the brand and the business model," SSCP Management principal Chris Dharod, who helped from new owner D&G Investors. "We are committed to advancing the company and working closely with franchisees to grow their businesses together."
So while Cicis pizza still probably can't return to business as usual in many of the 30 states where it operates, a trip to the pizza buffet is at least something we can still look forward to whenever this is all behind us. Because if there were ever a situation that called for a pizza party, it's the survival of an all-you-can-eat pizza chain at the end of a global pandemic.