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.
