DALLAS, Aug. 5, 2024
/PRNewswire/ -- Buca di Beppo, the renowned family-style
Italian dining brand, today announced that it has voluntarily filed
for reorganization under Chapter 11 of the U.S. Bankruptcy Code in
the United States Bankruptcy Court
for the Northern District of Texas. 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.
Buca di Beppo is restructuring 44 core locations and is in
process of opening one new location. 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.
"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 appreciates the continued support of its
customers, employees, and vendors as it looks forward to emerging
from the bankruptcy process more resilient and well-positioned for
the future.
Gray Reed & McGraw LLP is
serving as legal advisor. CR3 Partners LLC is serving as
financial advisor and providing corporate leadership as Chief
Restructuring Officer. Stout Capital, LLC is serving as
investment banker.
About Buca di Beppo:
Founded in Minneapolis in 1993, Buca di Beppo
restaurants embody the Italian traditions of food, friendship, fun,
celebration, and hospitality. Dishes enjoyed for generations in
villages throughout Italy inspire
the menu, which features both Northern and Southern Italian
favorites and delicious cocktails inspired by the region. While the
food has pleased millions of palates from coast-to-coast, Buca di
Beppo is equally famous for its quirky decor and upbeat atmosphere.
For more information, visit bucadibeppo.com and follow along on
Facebook, Instagram, TikTok or Twitter @bucadibeppo.
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SOURCE BUCA C, LLC