Buca di Beppo files for bankruptcy! Will the restaurants close?
Buca di Beppo had already filed for bankruptcy in 2024, citing difficulties due to the impact of the COVID-19 pandemic
Are you a fan of Buca di Beppo’s food? Then we’ve got some bad news for you. PB Restaurants LLC, the management company behind the restaurant, has just filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code, raising concerns about the future of its locations. Here’s everything we know so far.
Why did PB Restaurants LLC file for bankruptcy?
According to reports, PB Restaurants LLC filed for bankruptcy in early April. The company had already filed for bankruptcy in 2024, citing difficulties in covering high lease costs due to the impact of the COVID-19 pandemic, which led to the closure of several stores.
At that time, the court approved the sale of Buca di Beppo for $27 million to its main bidder, Main Street Capital Corporation; however, the sale never went through. That year, the company’s revenue dropped by 5%, and although it implemented cost-cutting measures, they were not enough to keep the business afloat. As a result, the company decided to file for Chapter 11 protection once again.
ALSO READ Cava will open 60 new restaurants in the United States! Check out where!
Will Buca di Beppo restaurants close?
So far, the company hasn’t confirmed whether any locations will close, but the 2024 bankruptcy filing resulted in the closure of 18 restaurants across 14 states, so a similar outcome is possible.
How many Buca di Beppo restaurants are there in the U.S.?
Following the 2024 closures, the company currently operates 44 restaurants nationwide.
History of Buca di Beppo
Buca di Beppo opened its first restaurant in 1993, starting in the basement of an apartment building in Minneapolis—a location that also inspired its unique name. From the very beginning, the restaurant focused on serving generous, family-style Italian meals meant to be shared among large groups in a lively and welcoming atmosphere, quickly becoming a local favorite.
Over the years, Buca di Beppo has grown significantly. From its humble beginnings, it expanded to numerous locations across the United States and even internationally, driven by the rising demand for its authentic Italian-inspired cuisine.
Despite its growth, Buca’s core mission remains the same: to deliver an experience full of flavor, fun, and festive spirit, reminiscent of traditional Italian gatherings where classic dishes and large portions take center stage.
What does “Buca di Beppo” mean?
The name Buca di Beppo roughly translates from Italian to “Joe’s little place.”
ALSO READ Checkers & Rally’s launches $4 meal deal! Here’s how to get it
What is Chapter 11 of the U.S. Bankruptcy Code?
Filing for bankruptcy protection under Chapter 11 means that a company is on the brink of ceasing operations, but believes it can recover its success if given the opportunity to reorganize its assets, debts, and business operations.
By filing under Chapter 11, the company seeks protection from creditors while restructuring its business and debt. This type of protection is available to corporations, individual entrepreneurs, and partnerships. Under Chapter 11, the company’s management continues to oversee daily operations. However, major business decisions must be approved by the bankruptcy court.
Who can seek protection under Chapter 11?
U.S. law allows any company or individual with a domicile, business establishment, or assets in the country to request judicial supervision to restructure their finances and operations under the provisions of Chapter 11.
There is no minimum or maximum value for the assets of a foreign company in the U.S. to be eligible for Chapter 11 protection under U.S. Bankruptcy Law. In certain cases, deposits held by the legal firm managing the process in the U.S. may be considered assets, making the debtor eligible to seek Chapter 11 protection.
