Orlando restaurant chain Buca di Beppo files for Chapter 11 Bankruptcy Protection

Popular Orlando based restaurant chain, Buca Di Beppo has filed for Chapter 11 bankruptcy amid news that the chain has closed 13 locations.

Buca di Beppo has voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, and according to the filing, the company located at Millenia Blvd, Orlando owes between $15 and $50 million to at least 30 creditors.

The news comes only days after Buca Di Beppo closed 13 restaurant across the country that the company claim were under-performing, including one Florida location at 1351 South Orlando Avenue in Maitland,

Now with the news that the company has filing for Chapter 11 bankruptcy, the company say that their financial woes are due to rising food and labour costs, combined with a slump in sales.

Buca di Beppo say that they will now concentrate on restructuring 44 core locations and is in process of opening one new location.

They have reassured customers that they are committed to ensuring that the restaurants operate as usual, and all gift cards, reservations, and promotional services currently remain active and redeemable.

"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," said Rich Saultz, President. "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."

William Snyder, Chief Restructuring Officer of Buca C, LLC, stated: "We believe this path will best allow us to continue to serve Buca's patrons and communities for many years to come. We are open for business in 44 locations, and we expect day-to-day operations to continue uninterrupted. We anticipate moving through this process as quickly and efficiently as possible to emerge as a stronger organization built for the future."

Here in the Orlando area, you can find Buca di Beppo at The Florida Mall and 6282 W Irlo Bronson Memorial Hwy, Celebration.

For more information, visit bucadibeppo.com.

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