The Texas-based company has more than 300 locations in 26 states — a sharp decrease from the roughly 650 restaurants it owned about a decade ago. Cici’s dropped “pizza” from its name in 2015 and expanded its menu to focus on its unlimited soup, salad and dessert options. The company was bought by Arlon, a food and agriculture investment firm, a year later.
Cici’s has between $50 million to $100 million in liabilities. The chain came to an agreement in December for its primary lender, D&G Investors, to purchase the company and its $82 million in debt.