--- title: "Pie Five Pizza is down to 13 locations" url: https://burnaze.com/article/aab7cfa0-a6b9-40fc-8ba0-1a48306c746d source: "Restaurant Business" original_url: https://restaurantbusinessonline.com/financing/pie-five-pizza-down-13-locations category: "Pizza" industry: "Restaurants" segment: "Pizza" published: 2026-10-09T17:29:41.000Z modified: 2026-10-31T14:58:08.941Z image: https://cdn.informaconnect.com/platform/files/public/2026-10/background/Pie%20Five%20front-resized.jpg?VersionId=jT2rISC9nvNPtFQ3cf4q8_VwfrpmbgEf --- # Pie Five Pizza is down to 13 locations **TL;DR:** Pie Five Pizza has declined to 13 locations from 88 in 2016, with significant contraction and sales drops in recent years. The brand's parent company, Rave Restaurant Group, reported a 23.8% decrease in systemwide sales for fiscal year 2026. *originally published in Restaurant Business on 2026-10-09. [Read the original](https://restaurantbusinessonline.com/financing/pie-five-pizza-down-13-locations).* ## Story Pie Five Pizza, the individual, made-to-order concept that debuted in 2011 in Fort Worth, Texas, was once one of the stars of the burgeoning fast-casual pizza category that spawned plenty of copycats throughout the 2010s. It reached its peak of 88 locations in 2016 following a rapid expansion phase bolstered by a franchising program introduced in 2013. Since then, however, the brand has sustained significant contraction. By 2020, the system retrenched by over half, with 42 locations at the end of the year, according to Technomic. It closed another 10 locations by the end of 2022. Pie Five finished 2025 with 17 units — a 15% year-over-year decline in unit count. Sales fell by over 30% last year. The company is now down to just 13 locations, according to a recent 10-K filed with the U.S. Securities and Exchange Commission by parent company Rave Restaurant Group. During the company’s fourth quarter of 2026, reported in late September, Pie Five’s domestic same-store sales decreased 17.3%. Fourth quarter prior-year same-sales decreased 7.2%. Its systemwide sales decreased by 23.8% to $8.6 million for fiscal year 2026. This was primarily driven by a decline in unit count. Pie Five franchise revenues decreased by $0.3 million to $0.9 million for fiscal 2026 as compared to $1.2 million for fiscal 2025. The 23.6% decrease was driven by decreases in domestic royalties from lower systemwide retail sales, also mainly due to unit closures. The company said it will continue to “opportunistically evaluate developing franchised Pie Five units domestically.” However, such expansion will be determined by the company’s success at selecting qualified franchisees, “satisfactory sites in appropriate markets,” and the company’s ability to “train and monitor” franchisees. Though the company said it will continue to focus on franchise development opportunities, it added, “We believe that Pie Five units will decrease in future periods.” These challenge come as the quick-service pizza category overall struggles. It was the only category with negative sales in 2025, according to Technomic, registering a negative 0.3% year-over-year decline. Unit count for the category was up just 0.1%. Fast-casual pizza, in particular, has had a rough go of late. The three chains that generated the steepest sales drops last year were all Pie Five competitors in that subcategory, including Blaze Pizza (-9.6%), MOD Pizza (-10.6%) and Pieology Pizza, which fell by a whopping 26.5% and filed for bankruptcy at the end of last year. Your Pie’s sales fell 3.2% in 2025, while its unit count was down 1.6%. Since 2020, more than 16% of the system has closed. PizzaRev received an investment from Buffalo Wild Wings in 2014 when it had just three locations and had 200 more under development. It grew to over 40 locations but is now down to just four. Meanwhile, Uncle Maddio’s once surpassed 40 locations and is now down to 11, and Fired Pie filed for bankruptcy in 2024 and is now down to eight locations. *Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.* ## Entities - QSR (sector) - franchise development (topic) - Restaurant Business (publication) - Technomic (company) - Buffalo Wild Wings (company) - Blaze Pizza (company) - Your Pie Pizza (company) - RAVE Restaurant Group (company) - Pie Five Pizza (company) - MOD Pizza (company) - U.S. Securities and Exchange Commission (regulator) - Pieology Pizza (company) --- Originally reported by Restaurant Business (https://restaurantbusinessonline.com/financing/pie-five-pizza-down-13-locations). Summarized by Burnaze (https://burnaze.com/article/aab7cfa0-a6b9-40fc-8ba0-1a48306c746d).