Happy Joe's Pizza Chain Is Filing for Bankruptcy and Closing Locations

In 2022 alone, we've seen the bankruptcy, and in some cases, the complete disappearance of several regional and national favorites. The popular New York City lunch destination Hale & Hearty abruptly closed the doors on its 16 remaining locations in July. We've also said goodbye to the final outpost of legendary favoriteMost recently, Texas-based Hometown Burger said goodbye to its loyal fans in San Antonion, where it has been in operation since 2016.

. 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.Known for its signature thin-crust taco pizza, Happy Joe's boasted 42 locations across Iowa, Wisconsin, North Dakota, Illinois, Missouri, and Minnesota at the end of 2021. Tony Sacco's, meanwhile, operates four locations.

So what has led to this decidedly unhappy turn of events for Joe's? Dynamic cites the lingering economic effects of the COVID-19 pandemic, coupled with the continually rising costs of staffing, supplies, and leases. The company is in debt to the tune of $5.3 million spread out over two loans. When Dynamic, private equity firm AAVIN Equity Advisors served as a financial partner in the deal by supplying those two loans. Dynamic also owes another $1.

The combination of COVID-19 and high prices"hampered [Dynamic's] ability to continue their operations with their current footprint and otherwise timely pay operating expenses," Sacco said.Happy Joe's appeared to be on the upswing prior to this announcement. In comparison to 2020, overall sales increased by 13% in 2021.

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