Bankruptcy

Giordano’s Files for Bankruptcy; Remains Open

We usually only require one slice of stuffed crust.
We usually only require one slice of stuffed crust. Photo: maveric2003/Flickr

One of Chicago’s most prestigious pizza purveyors filed for bankruptcy protection yesterday. Giordano’s, which helped create stuffed crust pizza back in 1974, owes $45.7 million to Fifth Third Bank. Apparently the action was due less to lack of business, and more to bad real estate deals. Michael Gesas, who represented the company in court, told Crain’s, “The pizza business is very healthy and very good. This was to protect and cover payroll and vendors.” Sure enough, all locations will remain open for now. Oddly, all this legal talk is just making us hungry. [Crain’s]

Giordano’s Files for Bankruptcy; Remains Open