Hard To Say! Well-Known Dining Chain Secures Future, Avoids Bankruptcy

Hard To Say! Well-Known Dining Chain Secures Future, Avoids Bankruptcy

A well-known restaurant franchise was rescued from insolvency in what appeared to be a last-ditch effort.

In a news statement issued on Wednesday, the pizza chain Elite Restaurant Group announced the acquisition of Mod Super Fast Pizza Holdings.

Through the deal, Elite was able to purchase all of the company’s shares.

We did not reveal the acquisition price.

Mod announced that it has been formulating a strategy to streamline its holdings, revitalize its image, and enhance the overall customer service it provides.

Mod Pizza was reportedly contemplating bankruptcy last week, but this deal will help them avoid that.

Hard To Say! Well-Known Dining Chain Secures Future, Avoids Bankruptcy

Mod said earlier this week by email that it was exploring all possible options to strengthen its financial position.

This year, Mod Pizza has not only been working on enhancing its business, but it has also changed leadership.

After co-founder Scott Svenson stepped down as CEO in January, Beth Scott took over.


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Both Fleming’s and Cooper’s Hawk were among her previous restaurant employers.

Former Raising Cane’s Chicken Fingers chief marketing officer Jennifer Anderson was also recruited by the chain to serve in same role.

“MOD has an outstanding culture and passionate, loyal guests and employees,” stated Michael Nakhleh, president and owner of Elite Restaurant Group.

“We are excited to assist MOD in writing the next chapter of its history and acknowledge the inherent value that this represents.”

There is a track record of unsuccessful restaurant concepts acquired by Nakhleh and Elite Restaurant Group.

The company transformed the 12-unit Noon Mediterranean brand into Daphne’s, another Mediterranean concept with more than 20 units, which it had purchased earlier in 2018 from a separate acquisition.

It acquired 68 units of Gigi’s Cupcakes and Project Pie in 2019.

According to Restaurant Dive, Mod claimed in January that it had over 540 sites nationwide, although that number has probably dropped due to the closing of a few restaurants.

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