Italian restaurant chain Buca di Beppo files for Chapter 11 bankruptcy, citing food and labor costs

Italian restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy Monday, citing a decrease in sales, rising food and labor costs and staffing challenges.

The Florida-based company, known for its family-style dining, is the latest restaurant business to file for bankruptcy this year — joining the likes of Red Lobster and Rubio’s Coastal Grill .

Buca di Beppo has $10 million to $50 million in assets and $50 million to $100 million in liabilities, according to its Chapter 11 petition filed in US Bankruptcy Court in Dallas.

Major furniture chain Badcock to shut all its stores after 120 years

The chain plans on restructuring its 44 locations, which are located across 14 states.

A company spokesperson told The Post there is no definite plan to close further locations.

Rudy Giuliani agrees to deal to end his bankruptcy case, pay creditors’ financial adviser $400K

The chain previously shuttered 12 restaurants before filing for bankruptcy, according to Reuters.

“This is a strategic step towards a strong future for Buca di Beppo,” Rich Saultz, the chain’s president, said in a statement.

“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.”

CLICK HERE TO SIGN UP FOR OUR MORNING REPORT NEWSLETTER

Saultz added the company’s day-to-day operations will remain the same — despite the bankruptcy filing.

“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,” he said.

With Post wires

For top headlines, breaking news and more, visit nypost.com.