Italian Banking M&A Wave Is Sweeping UniCredit to Mediobanca
Domestic consolidation has increasingly taken center stage. Mediobanca SpA 's April 28 offer for the wealth management arm of Italian insurer Assicurazioni Generali SpA is the latest move by a lender looking to protect its position in the fragmented market.
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Yahoo
an hour ago
- Yahoo
Upscale Italian restaurant chain abruptly closes area's only location; We now know why
A local upscale Italian restaurant has closed its doors for good after its parent company filed for bankruptcy. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] Bravo Brio Restaurants, the parent company of Brio Italian Grille at The Greene, filed for Chapter 11 bankruptcy on Monday, according to court documents obtained by News Center 7. The court documents, filed in United States Bankruptcy Court, Middle District of Florida, show the parent company listed estimated assets and liabilities between $50 million and $100 million. TRENDING STORIES: Over 200 tons of debris cleared after historic catholic church fire Son of NFL Hall of Famer removed from UC men's basketball team, coach says Scratch-off worth $1 million sold in Miami Valley 'The Debtor owns and operates restaurants nationwide under the names of Bravo! and Brio. To mitigate losses, in advance of filing this Chapter 11, the Debtor proactively identified and closed six (6) underperforming restaurant locations,' court documents state The filing shows that Brio at The Greene and two other Ohio restaurants were among the six that were closed. One is in Canton and the other is in Lyndhurst. The parent company also owns Bravo! Italian Kitchen at the Dayton Mall and Brio Italian Grille Liberty Center in Butler County. [SIGN UP: WHIO-TV Daily Headlines Newsletter] Solve the daily Crossword
Boston Globe
2 hours ago
- Boston Globe
These 14 items will be cheaper at Stop & Shop stores in Mass. starting this week
Stop & Shop focused the reductions on 'It's not like we're dropping the price on some obscure hot sauce — that wouldn't make a different for anybody,' Barr said. Advertisement Many produce items dropped in price, but Stop & Shop could not provide details, Barr said, because most fresh fruits and vegetables see frequent price fluctuations stemming from the commodities market. The Quincy-based retailer, an arm of European conglomerate Ahold Delhaize, started rolling out price cuts in stores in If you go to your local Stop & Shop in Eastern Massachusetts this week, here are 14 items that will be cheaper, according to the company. Häagen-Dazs ice cream The 14 oz. containers of Häagen-Dazs were $6.99 and are now $5.39. Ore Ida Frozen Potatoes 1-lb. bags of the frozen spuds were $5.29 and are now $4.99. Pasta sauce Prego alfredo pasta sauce (14.5 oz.) was $3.99 and is now $2.79. Advertisement Frozen waffles A 10-count box of Eggo frozen waffles was $3.59 and is now $3.39. Italian bread Stop & Shop Italian Bread (16 oz.) was $2.49 and will now be $1.79. Rotisserie chicken Stop & Shop rotisserie chicken (30 oz.) was $7.99 and is now $6.49. Potatoes Stop & Shop's 5-pound bag of Russet potatoes was $3.99 and is now $3.69. Chobani yogurt Single serve cups of Chobani non-fat yogurt were $1.79 and are now $1.49. Bacon A pound of Stop & Shop brand bacon was $6.99 and is now $6.49. Salad dressing A bottle of Ken's Salad Dressing (9 oz.) was $3.29 and is now $2.99. Chicken broth College Inn chicken broth (32 oz.) was $3.49 and is now $2.79. Shredded cheese Sargento shredded cheese (8 oz.) was $4.29 and is now $3.99. Pasta A pound of Stop & Shop brand pasta was $1.29 and is now $0.99. Stop & Shop ice cream A 48 oz. carton of Stop & Shop brand ice cream was $3.79 and is now $3.39. Claire Thornton can be reached at
Yahoo
3 hours ago
- Yahoo
Bravo Brio Restaurants declares bankruptcy a second time
This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Dive Brief: Bravo Brio Restaurants, which owns the Bravo Italian Kitchen and Brio Italian Grille brands, filed for Chapter 11 bankruptcy protections on Monday, according to a press release emailed to Restaurant Dive. The company previously filed for Chapter 11 in 2020, a process that ended with Earl Enterprises buying the Italian restaurants out of bankruptcy. The company said macroeconomic factors, such as declining consumer demand and increased competition from fast casual restaurants, played a part in the chain's decision to declare bankruptcy again. Dive Insight: Bravo Brio, which has roughly 50 units across both brands, said it is working to attract interest from new investors and that the bankruptcy process will help improve its financial position. The bankruptcy process will allow the chains to close underperforming locations, restructure debt and reduce operational expenses, according to the press release. The company has already closed a handful of locations this year, including locations in Virginia, Ohio and Missouri, according to local news reports. Shop Top Mortgage Rates Your Path to Homeownership A quicker path to financial freedom Personalized rates in minutes The chains have had difficulty with restaurants located in shopping centers that have high vacancies and low foot traffic, problems which have only worsened with discretionary consumer spending softening. The press release also cited ongoing inflationary pressures and increased food and labor costs as contributing to its deteriorating financial condition. 'These pressures have proved insurmountable to numerous other legacy, casual dining restaurant brands, many of whom have also turned to bankruptcy as a tool for restructuring,' the company said. Bravo Brio has between 200 and 999 creditors and estimated assets and liabilities each between $50 million and $100 million, according to a court filing. Its largest unsecured creditor is Sysco, which holds a claim of over $1.9 million Bravo Brio isn't the only repeat bankruptcy filer among casual chains. Bertucci's filed for bankruptcy earlier this year, its third time since 2018. The chain blamed t rising input costs, declines in consumer confidence and worsening economic conditions for its bankruptcy. Bar Louie filed its second bankruptcy in March, pointing to challenged sales following the COVID-19 pandemic, along with other macroeconomic conditions. Recommended Reading Bar Louie files for bankruptcy protections, again Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
