A popular pizza chain is the latest to face money problems in the face of rising costs and falling customer numbers.
Mod Pizza is preparing to file for bankruptcy as early as next week, sources told Bloomberg on Wednesday.
The plans are not finalized and could still change, the person familiar with the matter said.
“We’re working diligently to improve our capital structure and are exploring all options to do so,” a Mod Pizza spokesperson said in an emailed statement.
Mod Pizza, known for its custom personal pizzas and salads, has more than 500 locations across the US.
It had already shut 26 in the first three months of the year, bosses said at the most recent quarterly earnings.
Mod Pizza was founded in 2008 in Seattle and soon expanded across America.