Irving-based Cici's Pizza is filing bankruptcy but it hopes to exit the Chapter 11 quickly by completing a sale supported by it's lender D&G Investors which, if the plan is approved, will take ownership of the company as early as March.
Cici's owns fewer than a dozen of its restaurants but has more than 300 franchisees spread across 29 states.
Cici's has had its problems in recent years but the slide was sharply accelerated by the Coronavirus which has cut down much of the in-person dining which was Cici's strong suit because of its all-you-can-eat buffet model.
Another factor has been the big uptick in food delivery apps where competitors have excelled.
It's expected that most Cici's stores will be able to keep operating during the bankruptcy reorganization.