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The Italian restaurant chain Bertucci closes more locations after having deposited bankruptcy again To alleviate losses.
The company based in Massachusetts, which has locations along the east coast and is best known for its pizza and brick pasta, filed a request for the bankruptcy protection of Chapter 11 in Florida last week. He has marked the third bankruptcy of the channel since 2018.
Bertucci also closed seven of its sub -performative locations – five in Massachusetts, one in the Rhode Island and a in Maryland. It now operates 15 restaurant locations in six states, according to court documents.
Bertucci restaurant chain files for bankruptcy protection
The Italian restaurant chain Bertucci’s has filed for the third time since 2018. It has also closed seven restaurants to mitigate losses, according to a bankruptcy file on April 24. (WFXT)
The company cited the “deterioration” of the US economy And “the lack of demand from consumers of brands inherited to relaxed catering” as reasons why the restaurant chain worked at a loss, depending on the file.
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“With the loss that accumulates, the inflationary pressures still high and the opposite winds of the industry, the proverbial final straw fell [Bertucci’s] This year, when the world has seen food costs soar, slow consumption expenditure and an uncertain global economy falling (and the end) of the decline, “as indicated in bankruptcy documents.
Bertucci has assets and liabilities between $ 10 and 50 million, depending on the file.
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The restaurant chain hopes that bankruptcy will provide the company with a “breathing spell” so that it can “determine the best way to follow and formulate a global reorganization plan”, he said in the file.
In April 2018Bertucci filed for the protection against the bankruptcy of Chapter 11 and closed 15 restaurants. In December 2022, in the midst of the challenges caused by COVVI-19 pandemic As the closure of restaurants and inflation, he declared bankruptcy for the second time and rationalized operations to 23 locations, depending on the file.
Bertucci previously filed a record in 2018 and 2022. (WFXT)
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Bertucci did not respond to the request for comments from Fox Business.
