
Restaurant news: My Pi closing last pizzeria in Bucktown after 54 years of deep dish
My Pi, the pizzeria founded on deep dish in Chicago, which once had 17 restaurants across the country, will close its last shop after 54 years next month.
'On June 29,' said Rich Aronson, owner of the last location in the Bucktown neighborhood, and son of 89-year-old founder Larry Aronson.
They will return, however, for one more day at Pizza City Fest this summer.
'We're going to be there Sunday, Aug. 24,' added Rich Aronson. 'Which will be the 54th anniversary of my dad opening the original restaurant on Aug. 24, 1971.'
They've always been famous for their deep dish pizza, but one became their signature.
'The My Pi Special,' Aronson said. 'Which is your classic Chicago sausage, mushroom, onion and green pepper pizza.'
So why are they closing?
The very short answer, he said, is because they've never really had a dining room, since they originally opened primarily for takeout and delivery, and that now hinders their business.
'How that came about is kind of twofold,' he added. 'One, early on, back in the '90s, people were not really going to dine out at pizzerias anymore, you could see that in how Pizza Hut got rid of a lot of their dine-in restaurants.'
Then things changed with a kind of rebirth of pizza in Chicago, said Aronson, from Spacca Napoli to so many different pizzerias opening, and people were willing to go out and try great pizza.
'But they want a dining room to really experience it,' he said. 'And then we get to COVID in 2020.'
Their shipping business went up 400%, he added, so they replaced their little indoor dining area with freezers and storage. But now that business 'has come down to a realistic level, or even less than that.'
'If I had a dining room, we would be fine,' Aronson said. 'But without the dining room, things haven't been going well enough.'
And then just the overall economy, he said, it's just not worth trying to get through that.
'And finally, the cherry on the top of all of it, is just that I've been working in restaurants for 44 years now,' he said. 'I've owned this restaurant for 25 years. And it's gotten to the point where I'm just a little tired.'
He's not going to retire, but would like to possibly teach or do something else in the food industry besides restaurants.
My Pi in Bucktown does still have limited seating in an enclosed and heated outdoor all-seasons room with four tables, which can be found in their free small parking lot.
Will they do anything special on their last day?
'No,' said Aronson. 'Especially since once we announced the closing, we've been busier than we've ever been.'
They're just trying to accommodate all their customers who are coming from all over the United States to have their last pizzas, plus locals ordering parbaked pies for their freezers, he said, with a smaller staff than they used to have.
What slice will they serve at Pizza City Fest?
'Our chicken pesto pizza,' he said. 'It's a deep dish pizza with chicken breast and spinach. It comes with our regular signature tomato sauce, but then our homemade pesto is drizzled on top.'
What's the last thing he's planning to have at his restaurant? The menu has expanded over the years to include several Chicago-style pizzas and more.
'It's probably going to be the deep dish pizza,' Aronson said.
Almost every Friday, he makes deep dish, thin crust and their stuffed spinach souffle pizza for his extended family.
'My parents come over, my brother's family, our family,' he said. 'We all meet at my brother's house, and we've been doing that for decades.'
His mom and dad still own the My Pi concept, he added, so it's their decision on what might happen next.
But he's sure that Friday, before the last Sunday in June when they close, they'll have their pizza night.
'And I'm probably going to make a few pizzas, parbake them, take them home and then we'll have pizza together the Friday after, the week after I close,' he said. 'With the whole family.'More pizza news, in alphabetical order:
Aurelio's Pizza of Homewood, founded in 1959, celebrated when Robert Prevost, taking the name Pope Leo XIV, began his papacy on May 8, especially since he had visited the flagship pizzeria with friends just last August, ordering their signature Chicago-style, thin crust, square cut tavern pie, but with pepperoni, which will be available soon as the Poperoni.George's Deep Dish Tavern, by pizzaiolo George Bumbaris, who makes pizzas named for famous Georges, including a spaghetti-and-meatballs-topped Michael S&M, an homage to the late singer-songwriter George Michael, just opened a second location in Harwood Heights on May 22.Milly's Pizza in the Pan, an ode to pizza master Robert Maleski's grandmother, and his spiritual pizza godfather, Burt Katz (Burt's Place, Pequod's), announced that Milly's will be moving their Uptown location to the Noble Square neighborhood, home to an existing rare and bigger Middleby Marshall oven, sometime in late July.Beer Garden at Independence Grove, a seasonal cafe on a lake in the forest preserve, offering Lake County-brewed beers plus nonalcoholic drinks, snacks and light meals, began pouring in Libertyville on May 2. (Do note they're not pet friendly.)Norman's Bistro on the Lake, a new South Side lakefront outpost on Rainbow Beach of Norman's Bistro, the namesake restaurant of owner Norman Bolden in Kenwood, is expected to sail with their Creole, American Southern and South American menu in South Shore, postponed their Memorial Day weekend opening due to weather, but plans to kick off a summer series with live DJs on June 2.Taqueria Chingón, the creative taco restaurant by chefs and owners Marcos Ascencio and Oliver Poilevey, who closed their popular, but small and weather-dependent original location in the Bucktown neighborhood last November, relocated to the West Loop on May 17 and launched their expansive dog-friendly sidewalk patio on May 23.Ari Bendersky, veteran journalist and founding editor of Eater Chicago, premiered a documentary-style series on behind-the-scenes looks at restaurants called 'Family Meal,' the first episode featuring chef John Manion at the South American-inspired Brasero in West Town, now streaming on YouTube.Steve Dolinsky, the 13-time James Beard award-winning journalist, best known as the Hungry Hound, and founder of Pizza City Fest, has joined the Levy restaurant group as The Food Guy, a new role focused on culinary innovation and hospitality creativity.Maggie Hennessy, recently restaurant critic at Time Out Chicago, has joined The Party Cut, a Substack by irreverent food writer Dennis Lee, and her debut review covers Mister Tiger, a new family-owned homestyle Korean restaurant in the Noble Square neighborhood.CosMc's, the futuristic beverage-focused concept by McDonald's, which opened in 2023 with hourslong waits and news helicopters hovering overhead, will close the original location in Bolingbrook along with all stand-alone stores starting in late June.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Forbes
4 days ago
- Forbes
What To Know About The IRS's $4 Billion Tax Assessment On Yum! Brands
KFC Taco Bell (Photo by Artur Widak/NurPhoto via Getty Images) The IRS has assessed $4 billion in taxes, penalties, and interest on Yum! Brands. The issue stems from a tax-deferred reorganization in 2014. Yum! Brands is now suing to prevent the IRS from collecting these funds. M&A is often among the most complicated tax issues large corporations face, which can often lead to uncertainty and scrutiny from the IRS. In this article, I discuss the Yum! Brand corporation, what happened in 2014, and why they are facing such a steep tax penalty now over a decade later. Yum! Brands is the parent company of KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill. As noted by The Washington Post, this corporation spun off from PepsiCo in 1997 to become among the largest set of restaurant chains in the United States and the world. While it currently features those three staples, the corporation has also previously held other chains, such as A&W and Long John Silvers. Yum! Brands has been known to be innovative by having combination restaurants. In these situations, customers can order from a KFC or Taco Bell (or both) at the same location. What makes Yum! Brands particularly impactful is their international appeal. As stated on the Yum! Brands website, the brands total over 61,000 locations and can be seen in 155 countries. According to CNN, KFC has blossomed to become an international staple in countries like Japan, where people often have KFC as their Christmas dinner. Yum! Brands is also no stranger to tax-related news. In early 2025, the company announced a different restructuring. While the company is famously headquartered in Louisville, Kentucky (hence, Kentucky Fried Chicken), Fortune reported that it will be relocating to Plano, TX, due to, among other things, taxes. Kentucky is a state that levies a corporate income tax (5% in 2025). Meanwhile, Texas famously has a 0% tax rate on corporate profits. Individual income tax is also not levied in Texas. Newsweek suggests that Texas has become a bit of a tax haven for new corporate headquarters such as Tesla, Toyota, Charles Schwab, Chevron, and now Yum! Brands. Prior to 2014, Yum! Brands was made up of separate legal entities based on brand and region. For example, there were separate legal entities for KFC Asia and KFC Europe. According to court filings, On November 30, 2013, Yum! Brands publicly announced a corporate reorganization. In this reorganization, the company would no longer be broken out into segments based on geography. Instead, it would focus its organization based on brands (i.e., KFC, Taco Bell, and Pizza Hut). It would also have separate divisions for China and India. The goal of this reorganization was to drive growth. To help facilitate the reorganization, the new subsidiaries issued stock in exchange for stock in the previous subsidiary. This stock for stock reorganization often falls under the Internal Revenue Code Section 368(a)(1)(B), which allows for the acquisition of a corporation solely in exchange for all or part of its voting stock. As long as all of the conditions are met, the Yum! Brand legal entities can exchange the stock without recognizing a gain on the appreciated value of the stock. The conditions for this type of reorganization are as follows: Reorganizations under Section 368 are valuable for a company like Yum! Brands because it wishes to restructure the company's organization to enhance future profits. In a normal transaction where Yum! Brands were selling its stock to another company, Yum! Brands would have a gain (or loss) on the appreciated (depreciated) value of the stock. However, Section 368 allows companies to meet certain conditions to defer the gain to a future period. Importantly, companies still have to recognize a gain on the stock's appreciated value, but this gain will not typically happen until the company ultimately disposes of it. In this case, Yum! Brands thought that the conditions under Section 368(a)(1)(B) were met, which would defer the gain, allowing the reorganization to make more sense from a financial perspective. In Yum! Brand's 2024 10-K financial statements, the company notes the following: As reported by Bloomberg Tax, this disagreement comprises over $4 billion dollars in damages: the $2.1 billion in taxes that the IRS believes Yum! Brands should have paid during their reorganization in 2014, $418 million in underpayment penalties and over $1.5 billion in interest on the money that has not yet been paid to the taxing authority. $4 billion is a large assessment for any firm. However, to put it into context, Yum! Brands in 2024 had a pre-tax income of $1.9 billion and paid income taxes of $414 million on that income. Thus, a tax bill of over $4 billion is astronomical for even a company of this size. NRN reports that the disagreement stems from Yum! Brands believe to have met all of the requirements under Section 368 for the reorganization to be tax-deferred, whereas the taxing authority believes that these matters were not all addressed and initiates billions of dollars of income by way of a sale of appreciated value of stock. NRN also reports that Yum! Brands has taken this matter to court and appeals court but was unsuccessful. In turn, Law360 reports that Yum! Brands have taken the IRS to court to sue them over the collections of this $4 billion. While the matter is still uncertain, many in the M&A tax space continue to watch this saga unfold since it represents a significant assessment being levied against some of the U.S.'s most recognizable restaurant brands.


Bloomberg
4 days ago
- Bloomberg
What America's Pizza Economy Is Telling Us About the Real One
With tariffs swinging markets from highs to lows in the span of hours, it helps to look at other indicators to gauge the state of our economy: home sales, the average weekly hours for manufacturing employees, how many dolls a little girl is allowed to get for Christmas. Me? I'm watching pizza sales. For the longest time, pizza has been the go-to dinner order for anyone looking to feed a family fast and on the cheap. What's often touted as America's favorite food took on another attribute during the pandemic: safe. Domino's Pizza Inc., the largest of the delivery chains, and its smaller rival Papa John's International Inc. each registered double-digit year-over-year same-store sales increases in the US and North America, respectively, in 2020, helped by Covid-19 lockdowns. Pizza Hut finally saw that kind of lift in the first quarter of 2021, by which time inflation had started to bubble up, enhancing the value proposition. In an earnings call that quarter, David Gibbs, chief executive officer of parent Yum! Brands Inc., chalked up the success to several factors, including the 'compelling value' of Pizza Hut's $10 Tastemaker offer—a large pie with any three toppings.

Miami Herald
4 days ago
- Miami Herald
After Chapter 11 bankruptcy, iconic restaurant shuts 30 locations
The earliest memory I have of me and my family dining in a restaurant was at a cruise ship from Cyprus to Jerusalem. I was seven years old, and I remember it specifically because they were serving soup in huge cups. This was funny to me. They explained that it was because the ship is constantly swaying and it's more practical to avoid soup spilling. It was a bit less funny, but still very interesting. Don't miss the move: Subscribe to TheStreet's free daily newsletter Even though almost everything that is new is interesting when you are a kid, full of life and eager to explore, dining at a luxurious restaurant was really special. We were all dressed up, behaving nicely, and served all this delicious food we never tried before. Now I understand what made that soup in a cup dinner so precious was sharing it with the family. Then, all of a sudden, difficult times came, and we rarely traveled or ate at a restaurant. A lot has changed since then and the one that is dealing with the challenging times right now is the restaurant industry. Related: Domino's and Pizza Hut rival makes 'first-in-decade' menu change If the Covid pandemic didn't shut a restaurant down, it has, at the bare minimum, heavily impacted its operations. Now, in a post-pandemic environment, restaurants, diners, fast food chains and other hospitality establishments are dealing with rising costs of labor, food and supplies due to inflation, high interest rates on debt, and shifting consumer trends. Image source: Shutterstock It seems that almost every second there's another dinner going bankrupt, shutting down locations. And some of those are really huge chains, or iconic local places that have stolen the hearts of their neighbors. The post-pandemic and inflation-infected environment is killing even the establishments that have been around for four or more decades. Imagine that. Related: Beloved local family diner closing after nearly 40 years For example, the famous Red Lobster filed for Chapter 11 on May 19, 2024, closed 120 restaurants and still operates about 545 locations. Then there's TGI Friday, which has around 600 franchises worldwide, among which 213 U.S. locations, before it filed for Chapter 11 bankruptcy in Nov. 2024. More recently, beloved Mexican chain Fernando's Mexican Cuisine closed all locations without filing for we shouldn't forget Texas-based Bar Louie's, Massachusetts-based Bertucci's, Sticky Fingers Rib House, Planta, Fog City, Park Plaza, Hooters and many more. More Restaurants: Beloved Mexican restaurant closing iconic location after 63 yearsMajor restaurant chain quietly closes several locationsIconic restaurant closing its doors after 32 years Now, one of these widely popular bankrupt restaurants has abruptly closed many locations. On March 31, 2024, Hooters of America filed for Chapter 11 bankruptcy to reorganize its business. The company announced a plan to sell over 100 of its locations to two franchise groups-Hooters Inc. and Hoot Owl Restaurants LLC., reported TheStreet's Kirk O'Neill. Hooters of America reached an agreement for a new company Hooters Brand Management (run by the buyers) to take over the majority of the support services for the franchises. Related: Popular local Dairy Queen rival suddenly closing, no bankruptcy The decades-old brand known for delicious chicken wings did not announce any closures. On June 4, however, Hooters confirmed a "difficult decision" to close 30 locations, reported USA Today. There are around 305 Hooters locations, including 151 owned and operated by the company itself and 154 run by franchisees. "After careful consideration of what is needed to best position our company for the future, Hooters made the difficult decision to close certain company-owned locations," a company spokesperson told CNN. These are the locations that shut down: Sanford, FloridaOrlando, Florida – Kirkman RoadKissimmee, Florida – Osceola ParkwayMelbourne, FloridaAtlanta, Georgia – DowntownDouglasville, GeorgiaGwinnett, GeorgiaValdosta, GeorgiaGreenwood, IndianaRockford, IllinoisNewport, KentuckyFlint, MichiganTaylor, MichiganSt. Louis, Missouri – DowntownCharlotte, North Carolina – South BoulevardColumbia, South CarolinaRock Hill, South CarolinaMurfreesboro, TennesseeMemphis, Tennessee – DowntownNashville, Tennessee – Harding PlaceGrapevine, TexasHouston, Texas – 120 FM 1960 WSan Marcos, Texas Even though these are not the first closures for Hooters, as it has shut down a dozen locations in early 2024, the legendary restaurant chain says it is here to stay. "Hooters will be well-positioned to continue our iconic legacy under a pure franchise business model," Hooters told The USA Today. "We are committed to supporting our impacted team members throughout this process and are incredibly grateful to our valued customers for their loyalty and dedication to the Hooters brand." Related: Bankruptcy forces iconic ice cream chain to close 500 locations The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.