Beloved pizza chain files 4th Chapter 11 bankruptcy in a year

The pizza dining sector has dealt with an industry downturn over the last two years, forcing major pizza chains to close 100s of locations and, in some cases, file for bankruptcy.

Among the economic issues, restaurants blame fierce competition, rising labor and food costs, and high lease rates that have required several companies to launch restructurings.

A popular San Francisco-based pizza chain has filed for Chapter 11 bankruptcy for the fourth time in a year, underscoring the intense financial pressure facing independent restaurants.

Wood-fired pizza restaurant chain Fiorella, with four locations in San Francisco, has filed for Chapter 11 bankruptcy for the fourth time to reorganize another location and continue operating.

Fiorella’s Noe Valley location at 4042 24th Street, known as Project Pizza Noe LLC, filed its Chapter 11 petition in the U.S. Bankruptcy Court for the Northern District of California on March 6, 2026, according to PacerMonitor.

The Noe Valley filing follows three Chapter 11 filings by Fiorella’s Project Pizza parent companies in 2025.

Project Pizza Polk LLC, which operates the chain’s pizza and Italian restaurant location Fiorella Polk at 2238 Polk Street, filed its Subchapter V petition on July 2, 2025, in the Northern District of California, listing $100,000 to $500,000 in assets and $1 million to $10 million in liabilities in its petition.

More bankruptcies:

Affiliate Project Pizza LLC, which operates the pizza chain’s flagship location, Fiorella Clement, located at 2339 Clement Street, filed a Subchapter V petition on May 20, 2025, listing $50,000 to $100,000 in assets and $1 million to $10 million in liabilities in its petition.

Another affiliate, Project Pizza Sunset LLC, filed a Chapter 11 Subchapter V petition on April 1, 2025, on behalf of its Fiorella Sunset location at 1240 9th Avenue.

The restaurant chain did not reveal reasons for filing the bankruptcy petitions.

Fiorella’s partners Boris Nemchenok and Brandon Gillis opened the first location on Clement Street in 2016, followed by the Russian Hill location on Polk Street in 2019. The partners opened the Sunset location in 2021 and Noe Valley restaurant in 2024.

Other pizza chains that filed for bankruptcy in 2025 included Bertucci’s Restaurants, which filed for Chapter 11 protection on April 24, 2025, and Backdraughts, filing on July 23, 2025.

Major pizza restaurant franchisees also had financial difficulty last year, including Domino’s operator People First Pizza Inc., which filed for Chapter 11 bankruptcy on March 26, 2025, and Little Caesars franchisee Red Door Pizza LLC, which filed its petition on July 15, 2025.

Domino’s holds the title of largest pizza chain in the U.S. with about 7,090 units through the third quarter of 2025, according to the “Domino’s 101: Fun facts” on the company’s website.

Little Caesars claims to be the third-largest pizza chain in the U.S., but doesn’t list its total locations. The chain appears to have more than 4,200 in the U.S., according to LocationsCloud.

Some major pizza chains, which did not file for bankruptcy, instead are closing 100s of restaurants.

Giant chain Pizza Hut, with over 6,700 units, said it will close 250 stores, as part of its Hut Forward restructuring plan in the first half of 2026, after parent Yum! Brands’ Chief Financial Officer Ranjith Roy on Feb. 4 reported a 1% same-store sales decline globally in the fourth quarter and for the year in 2025.

In some more severe cases, pizza restaurant chains have been forced to file for bankruptcy protection to save their businesses from collapsing.

• Fiorella Noe Valley, 4042 24th Street, San Francisco

• Fiorella Polk at 2238 Polk Street, San Francisco

• Fiorella Clement, 2339 Clement Street, San Francisco

• Fiorella Sunset, 1240 9th Ave., San Francisco

Related: Troubled automobile maker files Chapter 7 bankruptcy liquidation

This story was originally published by TheStreet on Mar 8, 2026, where it first appeared in the Restaurants section. Add TheStreet as a Preferred Source by clicking here.