Italian Restaurant Chain Files For Bankruptcy For Third Time

Bertucci's, a well-known Italian restaurant chain, has filed for Chapter 11 bankruptcy protection for the third time since 2018. The Massachusetts-based chain, famous for its brick oven pizza and pasta, filed in Florida last week. This latest bankruptcy filing has led to the closure of seven underperforming locations—five in Massachusetts, one in Rhode Island, and one in Maryland—leaving the chain with only 15 locations across six states.

According to court documents, Bertucci's cited the "deterioration" of the U.S. economy and a "lack of consumer demand for legacy casual-dining brands" as reasons for its financial struggles. The company has been facing increasing losses, high inflation, and industry challenges, including soaring food costs and slowing consumer spending.

Bertucci's assets and liabilities are estimated to be between $10 million and $50 million. The company hopes that bankruptcy will provide a "breathing spell" to determine the best path forward and formulate a reorganization plan. The chain had previously filed for bankruptcy in 2018 and 2022, each time closing several locations to streamline operations.