These two other popular pizza channels have closed more locations
The Rave Restaurant Group's decline series continues in the last financial deposit.
Pizza Rave Chains Restaurant Group Pieck Five and Pizza Innhave had trouble all year. Due to a radical decrease in store sales on both brands, the parent company had taken emergency measures to reduce employee salaries and reduce the number of restaurant locations several months ago, which Motivated speculation of imminent bankruptcy for beloved pizza. Destinations. Unfortunately, this possibility seems to be always closer.The last financial deposit of the company reveals that Rave closed several locations of both pizza channels since September because their sales have plunged.
The company reported in September that they closed a total of 20 performing restaurants this year, including 16 five pieces of pieces and 4 pizza Inn. TheirLatest financial rank Finishing on September 27, shows that Rave had lost 8 additional locations in the two brands-Three Three Teck five and five restaurants of Pizza Inn. (In touch:9 restaurant chains that have closed hundreds of locations this summer.)
In addition, sales further declined in both brands. National sales of the Pizza Pizza Inn chain fell by 22% in the last tax district, while the rapid casual chain pie reported a decrease of 23%. In fact, the companyClosely escaped a radiation from Nasdaq In order not to comply with the dynamic equity of the $ 2.5 million Minimum Exchange Exchange.
But it is not all unfortunate for the beloved brands with places in 13 states and many other countries. According to the deposit, Pizza Inn saw "impressive results in driving trafficking and the average tickets" with their contactless buffet, while the five pieces sees an opportunity in menu upgrades and reward rewards, which. are currently tests currently.
"We continue to work through the challenges presented by the global health crisis, but we will not be dismissed by the pandemic and we will not be resolved in the repositioning of the RAVE to succeed in the long run"Ceo Brandon Solano.
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