Bertucci's files Chapter 11 in wake of weakening sales

Bertucci’s files for Chapter 11 bankruptcy protection

Bertucci's, an Italian food chain, filed Chapter 11 bankruptcy on Monday. In its bankruptcy filing on Sunday in the U.S. Bankruptcy Court for the District of DE, it listing Right Lane Dough Acquisitions LLC as the "stalking horse" bidder - the offer over which future bidders must bid higher or better.

Bertucci's financial woes are reflective of a broader trend for sit-down restaurant chains, which are struggling to maintain a steady clientele. However, those decisions may be made by Right Lane Dough Acquisitions LLC, a potential buyer according to the company's bankruptcy filing.

"Consumers have more options than ever for spending discretionary income, and their preferences continue to shift towards cheaper, faster alternatives".

Each year, more than 10,000 new restaurants open in the US, said Hudson Riehle, senior vice president of research at the National Restaurant Association. Those restaurants and 13 others were labelled underperformers and deemed "inconsistent" with Bertucci's plan, the filing noted.


Bertucci's CEO Brian Wright said the ownership shuffle will result in "minimal disruption" for the company and "strengthen" its financial position.

"We are grateful for the service and loyalty of our team members", Wright said in his statement, "and are looking forward to focusing on a return to Bertucci's roots: authentic, high quality, fresh ingredients that guests and team members alike crave and care about".

As of now, Bertucci's says that it has 59 remaining operating locations and they are still open, but the company faces the real possibility of going out of business without a speedy bankruptcy sale.

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