Phoenix-based fast-casual pizza chain Fired Pie filed for bankruptcy after financial challenges exacerbated by COVID and soaring inflation.
The 13-unit chain is looking to restructure operations and finances to preserve its business and the jobs of its 201 employees. The company has identified multiple underperforming locations that will close. Fired Pie had 21 locations as of May 2020.
Douglas Doyle, the sole owner and manager of Fired Pie’s parent company NWFI, LLC, attributed the bankruptcy to a combination of the pandemic’s prolonged impact on foot traffic and the rising costs of inventory and payroll.
Fired Pie began operations in July 2013, quickly gaining a loyal customer base with its customizable pizzas and fresh salads. However, the chain’s fortunes shifted drastically starting in 2020. Pandemic-induced restrictions and changing consumer habits led to a significant decline in sales, followed by record inflation that further strained the company’s finances. Despite efforts to weather these challenges, the chain fell behind on payments to creditors, including PNC Bank and Timberland Bank, and legacy debt owed to former owners.
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The brand owes roughly $440,000 in secured debt.
“To address Debtors’ financial difficulties, I decided, in the exercise of my business judgment, that the Debtors needed to seek relief under chapter 11 of the Bankruptcy Code,” Doyle said in the court filing. “The Debtors seek to preserve and capitalize on the going concern value of the business, and I believe the Debtors can achieve these goals in these chapter 11 cases through a successful reorganization.”
Fired Pie initially had three owners—Doyle, Fred Morgan, and Enrico Cuomo. In April 2016, Cuomo sold his interest to the other partners. In early 2024, Morgan was removed as an owner.
Fast-casual pizza chains initially thrived by offering customizable, made-to-order pizzas in a format similar to Chipotle’s build-your-own approach. However, the pandemic revealed vulnerabilities in the business model, especially in adapting to the digital and off-premises dining trends dominated by larger players such as Domino’s and Pizza Hut. Competing brands like MOD Pizza, Pieology, &pizza, and Blaze Pizza have faced significant challenges, undergoing major turnaround efforts to regain stability. Notably, all four have replaced their CEOs within the past three years as part of their restructuring strategies. MOD, which was close to bankruptcy, was acquired by Elite Restaurant Group earlier this year.
