Buca di Beppo Initiates Chapter 11 Proceedings to Optimize Operations and Secure Future Success

Lance Cameron
By Lance Cameron - Managing Editor 2 Min Read
BUCA Logo
Buca di Beppo

Orlando-based casual restaurant chain, Buca di Beppo has announced that it has voluntarily initiated Chapter 11 proceedings to facilitate a sale and ensure continued operations.

The filing was made under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas.

The announcement of the decision follows the company’s closure of several of its locations.

The restructuring aims to optimize operations and enhance the dining experience for customers.

“This is a strategic step towards a strong future for Buca di Beppo. While the restaurant industry has faced significant challenges, this move is the best next step for our brand. By restructuring with the continued support of our lenders, we are paving the way toward a reinvigorated future, Buca di Beppo has been a beloved gathering place for celebrations and memorable meals for many years, and we are enthusiastic about entering this next phase of our brand’s story.”

said Rich Saultz, President.

The Filings attribute the primary cause of their financial struggles to increased hiring costs and related challenges. The 21-page petition also revealed that the company owes close to $50 million to around 30 creditors.

44 core locations are being restructured, with one new location in the process of opening.

All gift cards, reservations, and promotional services remain active and redeemable.

Gray Reed & McGraw LLP is providing legal advice, CR3 Partners LLC is the financial advisor, and Stout Capital, LLC is the investment banker.

Buca di Beppo is committed to serving its customers, employees, and vendors, aiming to emerge from the process stronger and more resilient.

SOURCE BUCA C, LLC

Leave your vote

More

Discover more from AltSpice

Subscribe to get the latest posts sent to your email.

Share This Article
Managing Editor
Follow:
Curious by nature, Lance Cameron is the mastermind behind BITVoxy. As a writer and editor, he explores the intersection of tech, gaming, and pop culture. From business to food, crypto to entertainment, he's got you covered.
Leave a Comment

Subscribe to AltSpice via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 9 other subscribers
close

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.