Another restaurant chain confirmed massive closures, including withdrawal from the Empire State.
The owners of the Italian restaurant chain Buca di Beppo filed for bankruptcy under the US Chapter 11 procedure this week.
Buca di Beppo files for bankruptcy
The restaurant chain specializing in Italian-American cuisine is now based in Orlando, Florida.
The name can be loosely translated as “Joe’s little restaurant.” This is because the first restaurant was opened in the basement of a residential building in Minneapolis.
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“Buca Italian Restaurant serves family-style meals in an eclectic, group-friendly setting, perfect for celebrations,” the restaurant’s website states.
Reason for bankruptcy
“This is a strategic step toward a strong future for Buca di Beppo,” said Rich Saultz, president of Buca di Beppo, in a statement. “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 to a stronger future.”
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The company owes between $15 million and $50 million to at least 30 creditors, according to court filings. The Orlando-based company has assets valued at up to $50,000, while
Restaurant chain closes 13 locations, including in northern New York
At the same time as filing for bankruptcy, the restaurant chain closed 13 branches that were considered “underperforming.”
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The company is closing its only location in New York.
According to CBS, this restaurant is located at 44 Wolf Road in Colonie, New York.
The company confirmed that its 44 other locations in 14 states will remain open.
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Gallery credit: Meg Dowdy
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Gallery Credit: Paul Feinstein
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