Papa Gino's Abruptly Closes Some Restaurants This Weekend

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In a statement on Monday, PGHC Holdings Inc., the parent company of the pizzeria and D'Angelo Grilled Sandwiches, said it has reached an agreement with a Wynnchurch Capital portfolio company headquartered in IL to sell the company.

Papa Gino's Inc.is the parent company of Papa Gino's and D'Angelo Grilled Sandwiches.

In the same press release, Wendland said the decision to abruptly close the stores were hard decisions but decisions the company believe were absolutely necessary to allow the chains to continue to operate 178 other locations.

The proposed transaction, terms of which were not immediately disclosed, would significantly strengthen the chain's financial resources, allowing the company to remodel and modernize 141 remaining Papa Gino's and D'Angelo locations.

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The company also has plans to open additional restaurants throughout New England and enhance online ordering capabilities at all locations. The company will solicit competing offers to maximize the value of the sale, according to the press release.

Reports from workers who were let go by the company indicated as many as 49 stores were shuttered by the company. "Under this process, the sale will require court approval". "We are confident that the agreement with Wynnchurch achieves all of those goals", Corey Wendland, chief financial officer, said in the statement.

He conceded that the recent developments have been challenging for the company.

So. if you're yearning for the "all you can eat" pasta and pizza feast, head on down to your Cape Cod Papa Gino's store Monday through Wednesday. "We look forward to serving our guests the pizza and grilled sandwiches they have come to love over many decades". The phone number associated with the business now plays an automated message that says: "Thank you for calling Papa Gino's".

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