A popular fast-casual pizza chain, MOD Pizza, is reportedly exploring the possibility of filing for bankruptcy as it searches for a buyer, according to MSN reports. With 512 locations nationwide, the Seattle-based chain has enlisted legal and financial advisors to assist in a potential sale or restructuring. MOD has seen recent growth, operating 553 locations at the end of 2023, a rise of 4.1% from the previous year. However, despite a 5.7% increase in sales to $699.2 million last year, the chain is struggling to improve its capital structure. Founded in 2008, MOD was part of the build-your-own pizza trend and currently has 32 locations in Oregon. Following the closure of over two dozen restaurants, MOD appointed Beth Scott as CEO after a co-founder stepped down. This news coincides with a wave of bankruptcies in the restaurant industry, including the announcement from Red Lobster.