Latest news with #Bertucci's
Yahoo
06-05-2025
- Business
- Yahoo
After another Bertucci's bankruptcy, these are the last 15 locations open
Italian restaurant chain Bertucci's filed for Chapter 11 bankruptcy protection in late April for the third time since 2018. The Massachusetts-based business, which has locations along the East Coast and is best known for its brick oven pizza and pasta, has closed seven underperforming locations – five in Massachusetts, one in Rhode Island and one in Maryland. Italian Restaurant Chain Files For Bankruptcy Again, Closes Locations The chain was founded in 1981 by Joseph Crugnale, an Italian immigrant. By 1989, USA Today ranked it one of America's top 10 pizza restaurants. Expansion soon followed, and by the end of the 2000s, it had approximately 100 locations. The restaurant chain hopes bankruptcy will provide the business with a "breathing spell" so it can "determine the best path forward and formulate an overall reorganizational plan," it said in the filing. In its filing, the company said, "With losses accumulating, inflationary pressures still high, and industry headwinds gusting, the proverbial final straw fell on [Bertucci's] this year as the world saw food costs soar, consumer spending slow, and an uncertain global economy falling in (and out) of decline." Read On The Fox Business App In April 2018, Bertucci's filed for Chapter 11 bankruptcy protection and closed 15 restaurants. In December 2022, amid challenges caused by the COVID-19 pandemic like the closure of restaurants and high inflation, it declared bankruptcy for a second time and streamlined operations to 23 locations, according to the filing. Fast-food Chain Closing Up To 200 'Underperforming' Locations As financial pressures continue to mount, the restaurant is left with a total of 15 locations. Here is where they are located: Boston (Bertucci's Pronto – fast-casual format) Chelmsford Chestnut Hill (West Roxbury) Framingham Hingham Medford Newton Reading Waltham Westborough Columbia Glastonbury Christiana Springfield Square Springfield Click Here To Get Fox Business On The Go Original article source: After another Bertucci's bankruptcy, these are the last 15 locations open
Yahoo
02-05-2025
- Business
- Yahoo
Italian restaurant chain files for bankruptcy again, closes locations
Italian restaurant chain Bertucci's is closing more locations after filing for bankruptcy again to mitigate losses. The Massachusetts-based business, which has locations along the East Coast and is best known for its brick oven pizza and pasta, filed for Chapter 11 bankruptcy protection in Florida last week. It marked the chain's third bankruptcy since 2018. Bertucci's also closed seven of its underperforming locations – five in Massachusetts, one in Rhode Island and one in Maryland. It now operates 15 restaurant locations in six states, according to court documents. Restaurant Chain Bertucci's Files For Bankruptcy Protection The company cited the "deterioration" of the U.S. economy and "lack of consumer demand for legacy casual-dining brands" as reasons why the restaurant chain has been operating at a loss, according to the filing. Fast-food Chain Closing Up To 200 'Underperforming' Locations Read On The Fox Business App "With losses accumulating, inflationary pressures still high, and industry headwinds gusting, the proverbial final straw fell on [Bertucci's] this year as the world saw food costs soar, consumer spending slow, and an uncertain global economy falling in (and out) of decline," as stated in the bankruptcy documents. Bertucci's has assets and liabilities between $10 million and $50 million, according to the filing. Tgi Fridays' Us Footprint Has Shrunk To 85 Restaurants Across The Country The restaurant chain hopes bankruptcy will provide the business with a "breathing spell" so it can "determine the best path forward and formulate an overall reorganizational plan," it said in the filing. In April 2018, Bertucci's filed for Chapter 11 bankruptcy protection and closed 15 restaurants. In December 2022, amid challenges caused by the COVID-19 pandemic like the closure of restaurants and inflation, it declared bankruptcy for a second time and streamlined operations down to 23 locations, according to the filing. Bertucci's did not respond to FOX Business' request for article source: Italian restaurant chain files for bankruptcy again, closes locations
Yahoo
02-05-2025
- Business
- Yahoo
Italian restaurant chain files for bankruptcy again, closes locations
Italian restaurant chain Bertucci's is closing more locations after filing for bankruptcy again to mitigate losses. The Massachusetts-based business, which has locations along the East Coast and is best known for its brick oven pizza and pasta, filed for Chapter 11 bankruptcy protection in Florida last week. It marked the chain's third bankruptcy since 2018. Bertucci's also closed seven of its underperforming locations – five in Massachusetts, one in Rhode Island and one in Maryland. It now operates 15 restaurant locations in six states, according to court documents. Restaurant Chain Bertucci's Files For Bankruptcy Protection The company cited the "deterioration" of the U.S. economy and "lack of consumer demand for legacy casual-dining brands" as reasons why the restaurant chain has been operating at a loss, according to the filing. Fast-food Chain Closing Up To 200 'Underperforming' Locations Read On The Fox Business App "With losses accumulating, inflationary pressures still high, and industry headwinds gusting, the proverbial final straw fell on [Bertucci's] this year as the world saw food costs soar, consumer spending slow, and an uncertain global economy falling in (and out) of decline," as stated in the bankruptcy documents. Bertucci's has assets and liabilities between $10 million and $50 million, according to the filing. Tgi Fridays' Us Footprint Has Shrunk To 85 Restaurants Across The Country The restaurant chain hopes bankruptcy will provide the business with a "breathing spell" so it can "determine the best path forward and formulate an overall reorganizational plan," it said in the filing. In April 2018, Bertucci's filed for Chapter 11 bankruptcy protection and closed 15 restaurants. In December 2022, amid challenges caused by the COVID-19 pandemic like the closure of restaurants and inflation, it declared bankruptcy for a second time and streamlined operations down to 23 locations, according to the filing. Bertucci's did not respond to FOX Business' request for article source: Italian restaurant chain files for bankruptcy again, closes locations Sign in to access your portfolio
Daily Mail
30-04-2025
- Business
- Daily Mail
Beloved Italian restaurant chain abruptly shuts 30% of locations
A family-favorite restaurant has closed a group of stores after filing its third bankruptcy in five years. Bertucci's, the Massachusetts-based Italian restaurant chain known for its brick oven pizzas and family-friendly atmosphere, has closed nearly a third of its stores across the state. The company recently shut down four locations — in Braintree, Mansfield, North Andover, and Norwood — according to updates on its website, dwindling its state-wide headcount from 14 to 10. It just won the People's Choice Award at the 2024 Boston Pizza Festival. But several restaurants encountered financial stress after the company took home the prize. 'Thank you for your loyalty and support all these years,' a notice hanging outside of the restaurant's former Braintree location says, and pointed diners toward still-operating locations in Hingham and West Roxbury. The closures mark another chapter in a turbulent stretch for Bertucci's, which has now filed for bankruptcy three times in just five years. Bertucci's first entered bankruptcy in 2018, slashing its footprint in half from 56 restaurants down to 28. A second filing came in 2022, after pandemic supply chain disruptions squeezed operations. This year, Bertucci's filed for bankruptcy a third time. Just fifteen locations remain, with a smattering of restaurants in Connecticut, New Jersey, Pennsylvania, Maryland, and Virginia. This isn't the end for the chain. It opened a fast-casual offshoot of the famous pizza shop called Bertucci's Pronto in Boston earlier this month. 'The Bertucci's you know and love is here to stay as well, just with a few less locations for now,' the company said. In its bankruptcy filing, the company pinned the health of its business on the success of the new platform. It also said remaining stores remain profitable. But for the closing locations, the restaurant chain cited rising costs, lower consumer confidence, and a tougher economy for its latest collapse. 'On April 24, 2025, Bertucci's filed bankruptcy with the goal of promptly reorganizing its business for a sustainable and successful future,' the company wrote in the filing. 'Consistent with numerous other recent restaurant brand bankruptcies, consumer demand has shifted away from legacy casual-dining brands.' Bertucci's bankruptcy tracks closely with a broader shakeout in the sector. Multiple casual dining brands — including Red Lobster, Hooters , TGI Fridays , On The Border , and Roti — have all filed for bankruptcy in the past year. Meanwhile, other restaurant staples, like Denny's, Applebee's, Outback Steakhouse, and Cracker Barrel have all reported shrinking sales estimates at the start of 2025. Chains are facing two main issues: their costs to operate keep increasing, while inflation-stressed middle-income consumers are cutting back on restaurant spending. To confront the financial strain, multiple chains have rolled out fast-casual spinoffs of their menus. Golden Corral and Perkins both launched scaled back versions of their restaurants to entice value-seeking diners. The initial response to the fast-casual rollouts has been mixed. Bloomin' Brands, the parent company of Outback Steakhouse, has already scaled down its remodeling efforts .
Yahoo
29-04-2025
- Business
- Yahoo
Bertucci's recently closed five locations in MA after filing for bankruptcy. Here's where.
Bertucci's has closed a handful of locations in Massachusetts. The closures come after the Somerville-born Italian restaurant chain filed for Chapter 11 bankruptcy on April 24 due to falling sales, marking the third time the company has declared bankruptcy since 2018. Bertucci's is now down to 15 locations across the Northeast, with New England restaurants only remaining in Massachusetts and Connecticut. The company cited inflation, rising labor costs, and changing consumer habits as key challenges. Here's where Bertucci's recently closed in Massachusetts, as well as where you can still eat at the restaurant in the state. As of April 28, Bertucci's has closed the following locations in Massachusetts: Braintree - 412 Franklin St. Mansfield - 280 School St. North Andover - 435 Andover St. Norwood - 1405 Providence Hwy. Plymouth - 6 Plaza Way Boston food scene: First Watch is opening a new restaurant in Massachusetts. Here's where After the closures, Bertucci's still has nine operating restaurants in Massachusetts: Chelmsford - 14 Littleton Road Chestnut Hill - 683 VFW Pkwy. Framingham - 150 Worcester Road Hingham - 90 Derby St. Medford - 4054 Mystic Valley Pkwy. Newton - 275 Centre St. Reading - 45 Walkers Brook Dr. Waltham - 475 Winter St. Westboro - 160 Turnpike Road Additionally, Bertucci's recently opened a Bertucci's Pronto location for fast casual service at 22 Tremont St. in Boston. This article originally appeared on The Patriot Ledger: Bertucci's closures: See where the Italian chain has closed in MA Sign in to access your portfolio
