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This popular pizza chain has filed for Chapter 11 bankruptcy: will it close its locations?

This popular pizza chain has filed for Chapter 11 bankruptcy: will it close its locations?

Next Level Pizza, the parent company of Oath Pizza, filed for Chapter 11 bankruptcy after a Chapter 7 bankruptcy in late October 2024, marking a significant downturn for the once-booming fast-casual pizza chain.

This deposit will be result in the liquidation of the assets of Next Level Pizzathe company registering between $100,000 and $500,000 in assets and between $10 and $50 million in liabilities.

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The company says it cannot pay its creditors and appears to have completed its work.

Will Next Level Pizza close its locations?

By December 2023, all company-owned stores had closed as sellers. The franchise sector has also faced problems, with most franchisees halting royalty payments due to uncertainties over ownership or violations.

At the time of the bankruptcy filing, Oath Pizza’s website indicates that three locations appear to still be open, all available for online ordering.

The future of Oath Pizza locations, including its Nantucket flagship store where the chain was founded in 2015, is uncertain but only points in one direction. Although the Nantucket location was opened during the summer of 2023, it remains closed and does not appear to reopen.

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