The last honest pizza honestly needs help to keep its ovens on.
Round Table Pizza announced it filed for Chapter 11 bankruptcy protection Wednesday to help stabilize the company as it tries to settle its debt and increase its cash flow.
The Concord, Calif.-based pizza maker said the action will not impact any of its 355 restaurants on the west coast. All Round Table branches are expected to remain open.
“Our company has experienced consistent growth and management has been responsive to the difficult economic environment,” Round Table's President Rob McCourt said in a statement. “Unfortunately, we are compelled to take further steps, including this reorganization plan, to meaningfully address the high cost of our capital and above-market leases.
The reorganization process is expected to take up to 12 months.