The pandemic has been tough on all businesses but even more so on restaurants, especially buffets. Cici’s Holdings, the company behind Cicis Pizza filed for Chapter 11 bankruptcy on Monday.
When the pandemic hit, restaurants struggled to change their models of business. Delivery and curbside service blew up, but indoor buffet dining just can’t stay in the fight. According to Cici’s Holdings, many of their locations depend on dine-in customers for 86% of their money, and at a few locations, 99% of revenue comes from indoor dining.
Cici’s has 318 locations in 26 states. That’s half of what the company had 10 years ago.
At this time, no closings have been announced and stores will continue to serve diners as best they can.
More at FoxBusiness.com
