“A battle is under way for control of a well-known but financially struggling Austin pizzeria,” according to The Statesman.
“Jeff Sayers, the founder of Mangia Pizza, has prepared a plan to lift the company out of bankruptcy, according to court documents, but a creditor has submitted a plan of its own and hopes to take over the restaurant chain.
The case involves only the Mangia at 8012 Mesa Drive, which is owned by Sayers’ Mangia Pizza Investments LP, and the license for a location at Austin-Bergstrom International Airport. Locations at 2401 Lake Austin Blvd. and 12001 Burnet Road are owned by a separate company and not involved in the bankruptcy filing.
Mangia Pizza Investments filed for Chapter 11 bankruptcy protection in November 2010.
Mangia Pizza Investments’ total debts are more than $750,000, according to bookkeeper Michelle Musick. Records show the Internal Revenue Service is owed the most, about $190,000. Other creditors include the state comptroller’s office, Travis County and the Round Rock school district, as well as several businesses.”