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Italian restaurant chain files for bankruptcy


Italian restaurant chain files for bankruptcy

Italian Americans mourn the bankruptcy of a restaurant that offered “family-style” meals.

According to Reuters, Buca di Beppo officially filed for bankruptcy under the US Chapter 11 procedure earlier this month.

The Orlando, Florida-based restaurant chain, which has three dozen stores in 14 states, will continue to operate its existing locations “despite significant declines in sales, rising food and labor costs, and staffing issues,” Reuters reported.

Buca di Beppo is home to the “Pope’s Table,” which, as seen on the website, features a dedicated room filled with papal memorabilia and the largest dining area in the restaurant.

The chain is owned by Buca Inc. Buca Inc. is owned by Planet Hollywood, which, according to Planet Hollywood’s website, counts some famous faces among its shareholders and partners: Sylvester Stallone and Bruce Willis.

Unfortunately for New Yorkers, Buca di Beppo’s Albany location closed on July 30, just days before news of the bankruptcy was announced.

“After 24 years of being part of this community, Buca di Beppo in Albany sadly has to close,” the company said in a statement to NEWS10. “We thank our customers for their loyalty – it has been an honor to be the backdrop for countless gatherings and celebrations over the past two decades.”

Chains across the country have suffered this summer. Red Lobster also filed for Chapter 11 bankruptcy and was forced to close nearly 50 stores across the United States, including more than half a dozen in New York State.

Bob’s Stores – not to be confused with Bob’s Discount Furniture – also had to close in June. All stores were closed and all inventory liquidated, according to a press release from chain owner GoDigital Media Group. The last day of business for these stores was July 14.

Even Stop & Shop is closing “poorly performing” stores across the Northeast. However, the five locations on Staten Island were spared from the 32 closures.

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