The pizza restaurant industry has been downsizing this year, with major chains closing hundreds of underperforming locations.
Mountain Mike’s Pizza chain has been a contrarian over the last two years, adding dozens of new locations
The expansion mode, however, hasn’t prevented one of its franchisees from filing for bankruptcy protection. Rogue Fare LLC, a franchisee that operates five Mountain Mike’s Pizza restaurants in Oregon, filed for Chapter 11 bankruptcy protection to reorganize its business. Mountain Mike’s franchisee bankruptcy The Medford, Ore.-based pizza chain franchisee filed its petition in the U.S.
Bankruptcy Court for the District of Oregon in Eugene on July 1, listing up to $50,000 in assets and $1 million to $10 million in debts, according to court papers. The debtor’s largest creditors include First Bank of the Lake, owed over $2.9 million; First Internet Bank of Indiana, owed over $1.5 million; the U.S. Small Business Administration, owed over $120,000; Credit Associates Inc., owed over $63,000; Parifin-DoorDash, owed over $13,000; and Performance Food Group, owed over $10,000.