Elite Restaurant Group Acquires MOD Pizza to Avoid Bankruptcy

MOD Pizza, the fast-casual chain where diners can customize individual pizza pies, announced a new owner Wednesday in a move that could prevent or delay a bankruptcy filing.

Elite Restaurant Group has acquired MOD, though terms of the deal were not disclosed and little information about the company is available online.

After reports last week that the pizza chain was considering filing for bankruptcy, a company spokesperson said a turnaround plan was underway.

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