 Northwest News Time, now 5.50. Time for a money update from Rob Smith at Seattle Business Magazine. Seattle's beloved Mod Pizza may be nearing a bankruptcy filing, according to a report from Bloomberg. The company, which is actually headquartered in Bellevue, was founded in 2008 and now operates more than 500 locations across the U.S. There have been signs that the company was struggling. Mod Pizza closed 26 locations in the first quarter of this year.