FOOD NEWS
How Come So Many Pizza Chains Are Declaring Bankruptcy?
BY BRIAN UDALL
With businesses still reeling from the pandemic lockdowns, the added economic pressures of the high inflation rate have bankrupted many businesses, including pizza chains.
In light of these economic pressures, people are eating out less as they look for ways to tighten their fiscal belt, which has led to an alarming rise in bankruptcy filings.
These bankruptcy proceedings can mostly be attributed to over-leveraged balance sheets, a lengthy shutdown that ruined incoming sales, and the rising cost of food and other goods.