PLANO, Texas - Childhood favorite Cici’s Pizza announced Monday it will file for bankruptcy.
The company, based in Plano, cited declining in-store sales due to COVID-19 and getting left behind in a world filled with dining-to-go and app-based food delivery services.
"This trend poses significant challenges to Cici’s all-you-can-eat buffet model, which depends on in-store dining for approximately 99% of its revenue," the company said in a filling.
People dining inside a Cici’s restaurant was 86% of its business.
Cici’s has been slowly on the decline for the better part of a decade, even before the pandemic wreaked havoc with its business. It presently has 318 locations in 26 states, half of what it did in 2010.
Cici’s plans to sell itself to its primary lender, D&G Investors.