Chicago Pizza Set to File for Bankruptcy with ¥1.5 bil. Debt
12:34 JST, March 15, 2023
OSAKA — Chicago Pizza Co., a pizza delivery chain based in Ibaraki, Osaka Prefecture, is expected to file for bankruptcy after racking up some ¥1.5 billion in debt.
The chain ceased operations on Tuesday, according to an attorney representing the company.
Although the company had experienced a rise in demand for home delivery due to the pandemic, its earnings were hit hard by increased competition and higher purchasing and labor costs.
Founded in 1986, Chicago Pizza delivered pizzas as well as donburi bowls. The company had a total of 66 stores mainly concentrated in the Kinki region but also spanning the Kanto, Chugoku and Shikoku regions.
Although the firm reported sales of ¥4.2 billion in fiscal 2020, revenue fell to ¥3.4 billion in fiscal 2021, due in part to the foray of new companies into the pizza delivery business.
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