Major pizza chain considers bankruptcy

MOD Pizza, a Seattle-based pizza chain, is considering bankruptcy.

SEATTLE, Wash. — Mod Pizza is considering filing for bankruptcy.

The Seattle pizzeria, which has more than 500 locations across the country, could file for bankruptcy protection this week, Bloomberg reported. It is unclear whether the bankruptcy would result in the closure of the restaurant chain’s existing locations.

The restaurant, which opened in 2008, was once one of the fastest-growing chains, with revenue topping $700 million last year.

The company closed 26 stores and welcomed a new CEO and CMO earlier this year.

“We are working diligently to improve our capital structure and are exploring all options to achieve this,” a Mod Pizza spokesperson told Bloomberg.

Details of the channel’s financial problems have not been released.

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