Buca di Beppo files for Chapter 11 bankruptcy a month after closing underperforming restaurants

Buca di Beppo filed for bankruptcy Monday following a decline in customers over the years.

The Italian restaurant chain has filed for Chapter 11 bankruptcy for the Northern District of Texas. The restaurant aims to optimize operations and enhance the dining experience with the restructuring .

CBS News reported Buca di Beppo experienced limited customer demand during the pandemic and never fully recovered. The restaurant’s revenue for the first five months of 2024 fell 10 percent from the year before to $74.8 million.

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The restaurant also has about $10 million in debt. Approximately $1.36 million of that is from unused gift cards.

President Rich Saultz said in a statement: "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.

"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."

There will be a restructuring at 44 Buca di Beppo locations. The company is also in the process of opening a new location.

Restaurant operations will continue as normal, and all gift cards, reservations, and promotional services currently remain active and redeemable.

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."

The company did close 18 underperforming stores this year. Of those, 12 were just last month. Those locations were:

• 7111 West Ray Road in Chandler, Arizona
• 1249 Howe Ave. in Sacramento, California
• 615 Flatiron Marketplace Drive in Broomfield, Colorado
• 1351 South Orlando Avenue in Maitland, Florida
• 1030 Auahi Street in Honolulu, Hawaii
• 6045 East 86th Street in Indianapolis, Indiana
• 112 Kentlands Blvd in Gaithersburg, Maryland
• 38888 Six Mile Road in Livonia, Michigan
• 12575 Hall Road in Utica, Michigan
• 44 Wolf Road in Atlantic City, New Jersey
• 1900 Pacific Avenue in Colonie, New York
• 10915 Carolina Place Parkway in Pineville, North Carolina
• 60 East Wilson Bridge in Worthington, Ohio
• 3 East Station Square Drive in Pittsburgh, Pennsylvania
• 6600 Robinson Centre Drive in Pittsburgh, Pennsylvania
• 2745 Paper Mill Road in Wyomissing, Pennsylvania
• 202 West 200 South in Salt Lake City, Utah
• 935 East Fort Union Blvd in Midvale, Utah