Bertucci’s Italian Restaurant Chain Files for Bankruptcy Again
Renowned for its brick oven pizza and pasta, Bertucci’s is navigating financial challenges as it seeks Chapter 11 protection for the third time since 2018.
Background on Bertucci’s
Founded in 1981 by Italian immigrant Joseph Crugnale, Bertucci’s quickly gained recognition, earning accolades such as being ranked among America’s top pizza restaurants by USA Today in 1989. The chain expanded significantly throughout the 1990s and 2000s, growing to approximately 100 locations.
Recent Bankruptcy Filing
In late April 2023, Bertucci’s filed for Chapter 11 bankruptcy protection, stating that the process would allow the company to “determine the best path forward and formulate an overall reorganizational plan.” The filing came as the restaurant chain faced inflationary pressures, high food costs, and diminished consumer spending.
The business recently closed seven of its underperforming locations, including five in Massachusetts, one in Rhode Island, and one in Maryland.
Challenges Faced
Bertucci’s has cited several challenges contributing to its financial difficulties:
- Accumulating financial losses
- Inflationary pressures impacting food costs
- Uncertain economic conditions affecting consumer spending
The company stated, “With losses accumulating, inflationary pressures still high, and industry headwinds gusting, the proverbial final straw fell on [Bertucci’s] this year,” reflecting the multitude of challenges it faces.
History of Bankruptcy
This recent filing marks the third occasion Bertucci’s has sought Chapter 11 protection. The first was in April 2018, where 15 restaurants were closed, followed by a second filing in December 2022 during which it reduced operations to 23 locations due to the COVID-19 pandemic’s impact.
Current Locations
Following its restructuring efforts, Bertucci’s is left with 15 operational locations, primarily concentrated in Massachusetts. The details are as follows:
Massachusetts (10 locations)
- Boston (Bertucci’s Pronto – fast-casual format)
- Chelmsford
- Chestnut Hill (West Roxbury)
- Framingham
- Hingham
- Medford
- Newton
- Reading
- Waltham
- Westborough
Other States
- Maryland: 1 location
- Connecticut: 1 location
- Delaware: 1 location
- Pennsylvania: 1 location
- Virginia: 1 location
