Round Table president and CEO, Rob McCourt, said "Round Table remains open for business and fully operational, and we will continue to serve our customers 'The Last Honest Pizza.'" The filing is not expected to impact Round Table's 148 franchisees that operate 355 independently owned units on the West Coast. The company has said it will close some company-owned restaurants that are unprofitable, but added that most company-owned locations and all franchised locations will remain open, hopefully with minimum impact on consumers.
"Our company has experienced consistent growth and management has been responsive to the difficult economic environment," said McCourt, and added, "Unfortunately, we are compelled to take further steps, including this reorganization plan, to meaningfully address the high cost of our capital and above-market leases." McCourt also said Round Table would continue to communicate with employees, franchisees, vendors and other critical audiences throughout the reorganization process, which is expected to take up to a year.