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The competitive pizza sector of the franchise industry is growing increasingly cutthroat, as evidenced by <a href="https://www.restaurantbusinessonline.com/financing/uncle-maddios-files-bankruptcy-protection?utm_source=1851franchise.com&utm_medium=article&utm_campaign=uncle-maddios-pizza-franchise-files-for-bankruptcy-2709742" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">a recent Restaurant Business report</a> stating that <a href="https://www.unclemaddiosfranchise.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=uncle-maddios-pizza-franchise-files-for-bankruptcy-2709742" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">Uncle Maddio&rsquo;s</a> parent company Ignite Brands has filed for bankruptcy protection.

According to the article, filings show the company has about $1.5 million in secured debt. The news comes as Uncle Maddio&rsquo;s is in the midst of a steep decline in revenue and units; just three years after the brand received an investment from private equity firm S&amp;S Group and stated it was &ldquo;on track to have 300 restaurants open in five years,&rdquo; the brand has gone from having 42 open locations in 2015 to just 29 in 2018, according to Technomic Ignite data cited in the article. Uncle Maddio&rsquo;s system sales also declined 14% last year, the same data revealed.

Despite its bold claims in 2015, the company has fallen short of growth projections as other players in the fast-casual pizza space have caught fire. The article notes that competitor MOD Pizza grew to more than 400 locations and approximately $400 million in annual system sales last year,&nbsp;while Blaze Pizza is now operating 300 locations and counting <a href="https://1851franchise.com/blazing-growth-continues-for-assembly-line-concept-blaze-pizza-as-brand-plans-development-in-southern-georgia-2709727#mainTrending" style="text-decoration-line:none" target="_blank">as its aggressive expansion plan successfully plays out</a>. 

Read the full story <a href="https://www.restaurantbusinessonline.com/financing/uncle-maddios-files-bankruptcy-protection?utm_source=1851franchise.com&utm_medium=article&utm_campaign=uncle-maddios-pizza-franchise-files-for-bankruptcy-2709742" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">here</a>.

Uncle Maddio's Pizza Franchise Files For Bankruptcy

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Amid the growing presence of competitors MOD Pizza and Blaze Pizza, Uncle Maddio's is on the decline across the board.

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