Italian-American restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy protection on Monday, saying it intends to keep its current locations open...
- Italian-American restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy protection on Monday, saying it intends to keep its current locations open despite a significant drop in sales, rising food and labor costs, and staffing challenges.
It joins other restaurant chains that have cited rising costs as reasons for filing for bankruptcy in 2024, including Red Lobster and Rubio's Coastal Grill.Buca di Beppo's president, Rich Saultz, said the company's lenders support a bankruptcy restructuring and that day-to-day operations will continue as normal.
The company has $10 million to $50 million in assets and $50 million to $100 million in liabilities, according to its Chapter 11 petition filed in U.S. Bankruptcy Court in Dallas. Victoria Beckham Says She and Siblings Would Ask to Go to School in Van Instead of Rolls-Royce: ‘Wanted to Fit In’Simone Biles says she has achieved more than her wildest dreams as she leaves Paris with three Olympic gold medals and one silver.SANTA MONICA, Calif.
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