The two Pizza Inn restaurants in Springfield have closed, a company employee confirmed this morning.
Cynthia Nelson, manager of franchise operations for Dallas-based parent company Rave Restaurant Group Inc. (Nasdaq: RAVE), said she was informed by Pizza Inn President Bob Bafundo of the recent closures. She deferred further questions to Bafundo, who could not be reached for comment by deadline.
The restaurants at 2440 N. Kansas Expressway and 1425 W. Battlefield Road were franchises, Nelson said. It’s unclear who the franchisees were or how long the restaurants have been in town. Anecdotal evidence from former employees known by Springfield Business Journal staff indicates Pizza Inn had a presence in the Queen City for at least 30 years.
Rave Restaurant Group also owns Pie Five Pizza Co., which is one of the planned tenants at Branson-based HCW LLC’s retail center at the former Springfield Back Yard Burgers property, 1008 E. Battlefield Road. The development is scheduled for completion next month, according to SBJ archives
The Dallas parent company owns, operates and franchises more than 300 Pizza Inn and Pie Five restaurants. Last month, Rave Restaurant Group reported a fiscal 2017 second-quarter net loss of $7.9 million. The figure widened from a loss of $4.8 million a year earlier, according to a news release.
RAVE shares were trading at $2.09 as of 10:45 a.m., compared with a 52-week range of $1.66 to $5.73.