10 months ago
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ORLANDO (WJET/WFXP) — Just days aft respective Buca Di Beppo locations abruptly closed, the institution filed for Chapter 11 Bankruptcy.
According to the tribunal documents filed conscionable earlier midnight connected August 4, 2024, the Orlando-based institution presently holds $0 to $50,000 successful assets and owes astatine slightest $15 cardinal - $50 cardinal to astatine slightest 30 creditors.
The bankruptcy filing comes lone days aft the institution abruptly closed 13 underperforming stores.
Buca di Beppo has astir 44 locations crossed 14 states and 2 planetary locations. According to the filing, the institution has been deed hard by a important driblet successful income alongside rising nutrient and labour costs, continued staffing challenges, and changes successful lawsuit preferences.
At this time, determination is nary denotation successful the tribunal documents that immoderate different locations, too the locations that closed past week, volition beryllium closing arsenic a effect of this filing.
The locations that person closed and the institution is seeking to cull the leases include:
- 7111 West Ray Road, Chandler, Arizona
- 3612 Tudor Boulevard, Austin, Texas
- 38888 Six Mile Road, Livonia, Michigan
- 615 Flatiron MarketPlace Drive, Broomfield, Colorado
- 202 West 300 South, Salt Lake City, Utah
- 935 East Fort Union Boulevard, Midvale, Utah
- 10915 Carolina Place Parkway, Pineville, North Carolina
- 6045 East 86th Street, Indianapolis, Indiana
- 15350 South 94th Avenue, Orland Park, Illinois
- 2745 Paper Mill Road, Wyomissing, Pennsylvania
- 44 Wolf Road, Colonie, New York
- 2335 Mansell Road, Alpharetta, Georgia
Buca di Beppo joins respective restaurants that person abruptly closed locations crossed the nation. Many restaurants person been seeing fiscal struggles arsenic ostentation continues to increase, and a large staffing shortage affects the edifice industry, Many companies person besides met trouble successful rebounding aft the COVID-19 pandemic and its consequent effects which see a terrible alteration successful lawsuit demand.
The first-day proceeding is acceptable to instrumentality spot connected Wednesday, August 7, 2024, astatine 10:30 a.m. Central Time.
