Popular Italian eatery files for bankruptcy, shutters Indy location
INDIANAPOLIS (WISH) — Buca di Beppo, the family-style Italian restaurant announced today that it has filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United Stated Bankruptcy Court for the Northern District of Texas, according to a press release.
The press release states “The goal of the restructuring effort is to ensure a seamless transition and to position the brand for future success. This decision is aimed at optimizing operations and enhancing the dining experience for its valued customers.”
The bankruptcy filing follows the sudden closure of several underperforming stores. The closed locations 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 is restructuring the remaining 44 locations, including the one in downtown Indianapolis and in Greenwood, Ind. and are not closing as part of the Buca di Beppo bankruptcy.
According to the press release, the company is committed to ensuring that the restaurants operate as usual, and all gift cards, reservations, and promotional services currently remain active and redeemable. The company is hoping the Buca di Beppo bankruptcy does not affect customers.
“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.”
Buca di Beppo was founded in 1993 in Minneapolis, Minn.