CHARLOTTE, N.C. – Italian-American restaurant Buca di Beppo filed for bankruptcy protection and closed its only Carolina location Monday, August 5th.
The restaurant released a statement saying it intends to keep its current locations open despite a significant drop in sales, rising food and labor costs, and staffing challenges.
Buca di Beppo at Carolina Place Parkway in Pineville, near Carolina Place mall, is among a dozen restaurants across the country that abruptly closed last week.
The company has $10 million to $50 million in assets and $50 million to $100 million in liabilities, according to its Chapter 11 petition filed in U.S. Bankruptcy Court in Dallas.
The Orlando, Florida-based company currently has 44 locations across 14 states and 3,340 employees. It said it is also opening one new location. It closed 12 restaurants before filing for bankruptcy and will seek court approval to terminate leases at those locations.
