Troubled Pizza Chain With 46 CA Locations Sold After Bankruptcy Talks

CALIFORNIA — A Southern California company has acquired fast-casual chain MOD Pizza in the wake of closures and bankruptcy talks, according to reports.

MOD announced the acquisition by Elite Restaurant Group on Wednesday.

“MOD is a beloved brand with a strong following,” MOD CEO Beth Scott, who joined the company in January, said in a news release. “We’re excited to work with Elite Restaurant Group to strengthen MOD’s future.”

Founded in 2008 in Seattle, MOD now operates eateries in Canada and 28 states, including 46 locations in California. It is built around a customizable personal pizza concept and offers over 40 toppings.

Bloomberg reported last week that MOD was preparing to possibly file bankruptcy, citing people with knowledge about the situation.

The chain has closed 44 locations so far this year, according to Restaurant Business, which reported that MOD’s buyer, Elite, is “a collector of financially troubled restaurant brands.”

“MOD has an outstanding culture and passionate, loyal guests and employees,” Michael Nakhleh of Elite said in the news release. “We recognize the inherent value this represents and look forward to helping MOD write the next chapter in its history.”