Buca di Beppo, the family-style Italian dining brand, announced today 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 restaurant closed its only Montgomery County location at 112 Kentlands Blvd in Gaithersburg on Sunday, June 23. A replacement has not yet signed on.
According to a press release from the company, “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 the process of opening one new location. The company stated that it 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.”
