The pizzeria at the corner of Pennsylvania Avenue and Madison Avenue that is now bankrupt has long been a favorite of diners.
It has a good reputation and a long history of being a favorite spot for New Yorkers, said Andrew P. Miller, a professor of restaurant studies at the University of Southern California.
But now, he said, the place is struggling.
He said that the restaurant will close and reopen as a pizza joint on Wednesday.
The restaurant, located at 638 Pennsylvania Ave., will close as part of a deal with Pizza Hut, the largest pizza chain in the world, to sell its shares in a private-equity fund that will help pay for its reorganization.
Pizzeria owners say that while they are trying to stay afloat, they can’t survive on the pizza that customers love.
A Pizzagate pizza has been seen at a pizzerias near the scene of the shooting in New York City on Oct. 6, 2017.
They have not disclosed the number of employees that work at the place.
They said they have struggled for years to make ends meet and to survive, as a result of a wave of restaurant closures and the rise of other large chains, including Starbucks.
They hope to reopen this month, but they need to find a buyer for the pizza business, Miller said.
A spokesman for Pizza Hut did not immediately respond to a request for comment.