We’ve also said goodbye to the final outpost of legendary favoriteHoward Johnson’sin June.
The chain simply posted a notice that it was shuttering all eight of its restaurants, seemingly overnight.
And now, a beloved Midwestern pizza chain joins this unfortunate bunch.
Happy Joe’s Pizza / Facebook
Dynamic Restaurant Holdings, the parent company of Happy Joe’s,filed for bankruptcy earlier this month.
Dynamic also operates the much smaller Florida-based pizza chain Tony Sacco’s.
As a result, company-owned locations will be closing across both brands.
Happy Joe’s Pizza / Facebook
Tony Sacco’s, meanwhile, operates four locations.
Among that group, three Happy Joe’s and both Tony Sacco’s locations have already closed their doors.
But that doesn’t mean the brands are disappearing altogether.
“We’re going to be here another fifty years.
So what has led to this decidedly unhappy turn of events for Joe’s?
The company is in debt to the tune of $5.3 million spread out over two loans.
Dynamic also owes another $1.2 million on a separate loan from the seller of Happy Joe’s.
Happy Joe’s appeared to be on the upswing prior to this announcement.
In comparison to 2020, overall sales increased by 13% in 2021.
“This company is really solid financially,” he said.
“We’ve got good growth going on in the company.
I mean, we signed a franchisee two or three days before we filed bankruptcy.”
