Starting in the mid 1980's, Cicis Pizza was always the go-to pizza restaurant for cheap bites and great value. With their no-frills locations, cheap prices and innovative buffet concept, the restaurant became a massive success with hundreds of locations across the country. However, things have changed and following a bankruptcy, their once dominating presence has been severely diminished. Join me as we find out why.As user tcbgarage2845 wrote in his comment, "Private equity, Leveraged buyouts, Covid 19 and Chapter 11 bankruptcy! The whole gang is here." Indeed.
As I've written several times, no bankrupt company's story is complete without both Bright Sun Films and Company Man making videos about it, so I'm sharing Company Man Mike asking The Decline of CiCi's Pizza...What Happened?
Cici's pizza has been on the decline for more than a decade now. What was once the 5th largest pizza chain in the U.S. has fallen to number 10. This video takes a look at how they grew so large and theorizes where they went wrong.There is also an AI-generated video summary.
CiCi's Pizza: from a humble beginning to a top-five pizza chain, this video explores the brand's rise and subsequent decline. The documentary analyzes the company's unique buffet model and its impact on CiCi's growth trajectory. It also examines factors that may have contributed to its recent struggles.Company Man Mike uploaded this video on October 14, 2020, during the height of the pandemic, yet he didn't mention it. I'm surprised. Also, he produced this before CiCi's declared bankruptcy and before he began creating his lists of reasons for failure. Too bad — those lists are right up with his bar charts and line graphs among my favorite parts of Company Man Mike's videos. At least this video has plenty of those, along with enough shots of the menu items to make me hungry.
That's a wrap for today's lesson showing what not to do in business. Stay tuned for the Sunday entertainment feature.
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