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Italian restaurant chain Bertucci’s filed for Chapter 11 chapter safety in late April for the third time since 2018.
The Massachusetts-based enterprise, which has areas alongside the East Coast and is finest recognized for its brick oven pizza and pasta, has closed seven underperforming areas – 5 in Massachusetts, one in Rhode Island and one in Maryland.
ITALIAN RESTAURANT CHAIN FILES FOR BANKRUPTCY AGAIN, CLOSES LOCATIONS
Italian restaurant chain Bertucci’s has filed for chapter for the third time since 2018. It has additionally closed seven eating places to mitigate losses, in keeping with an April 24 chapter submitting. (WFXT)
The chain was based in 1981 by Joseph Crugnale, an Italian immigrant. By 1989, USA In the present day ranked it considered one of America’s prime 10 pizza eating places. Growth quickly adopted, and by the top of the 2000s, it had roughly 100 areas.
The restaurant chain hopes chapter will present the enterprise with a “breathing spell” so it may possibly “determine the best path forward and formulate an overall reorganizational plan,” it stated within the submitting.
In its submitting, the corporate stated, “With losses accumulating, inflationary pressures still high, and industry headwinds gusting, the proverbial final straw fell on [Bertucci’s] this year as the world saw food costs soar, consumer spending slow, and an uncertain global economy falling in (and out) of decline.”
In April 2018, Bertucci’s filed for Chapter 11 chapter safety and closed 15 eating places. In December 2022, amid challenges attributable to the COVID-19 pandemic just like the closure of eating places and excessive inflation, it declared chapter for a second time and streamlined operations to 23 areas, in keeping with the submitting.
FAST-FOOD CHAIN CLOSING UP TO 200 ‘UNDERPERFORMING’ LOCATIONS
Italian restaurant chain Bertucci’s has filed for chapter for the third time since 2018. It has additionally closed seven eating places to mitigate losses, in keeping with an April 24 chapter submitting. (WFXT)
As monetary pressures proceed to mount, the restaurant is left with a complete of 15 areas. Right here is the place they’re situated:
Massachusetts (10 areas)Boston (Bertucci’s Pronto – fast-casual format)ChelmsfordChestnut Hill (West Roxbury)FraminghamHinghamMedfordNewtonReadingWalthamWestboroughMaryland (1 location)Connecticut (1 location)Delaware (1 location)Pennsylvania (1 location)Virginia (1 location)
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