Hooter’s CEO Melili joins Fox and Friends’, who discusses the plan to return the brand to its roots as a ‘neighborhood restaurant’.
Italian restaurant chain is closing more places after filing to BETUCCI Recreation To reduce the loss.
Massachusetts-based businesses, which have space along the east coast and are known for their brick oven pizza and pasta, were last week filed for chapter 11 insolvency conservation in Florida. It marked the third bankruptcy of the series from 2018.
Burtuchi also closed his seven underperforming places – five in Massachusetts, one in the road island and one In MarylandAccording to court documents, it now operates 15 restaurant locations in six states.
Restaurant Series Burtuchi files for bankruptcy conservation
According to the April 24 insolvency filing, the Italian restaurant series Burtuchi has filed for the third time since 2018 for bankruptcy. It has also closed seven restaurants to reduce the damage. (Wfxt)
The company cited “deteriorating” American economy According to the filing, why the lack of consumer demand for the inheritance contingent-food brands “is running in the loss of the restaurant chain.
Fast-food chain 200 ‘underperforming’ places concluded
“With disadvantage, inflation pressure is still high, and with the headwinds of the industry, the cosmic final straw collapsed at this year (Burtuchi) as the world increased the cost of food, slowing down the consumer, slow, and an uncertain global economy (and falling out),” as stated in insolvency documents.
According to the filing, Burtuchi has assets and liabilities between $ 10 million and $ 50 million.
TGI Friday’s US footprint has shrunk for 85 restaurants across the country
The restaurant chain hopes that the bankruptcy will provide the “breathing mantra” to the business, so it can determine the best way and create an overall restructuring plan, “it is said in the filing.
In April 2018Burtuchi filed chapter 11 for insolvency conservation and closed 15 restaurants. In December 2022, due to challenges Kovid-19 epidemic Like the closure of restaurants and inflation, it announced bankruptcy for the second time and, according to the filing, streamlined streamlined operations at 23 places.
Burtuchi filed first for bankruptcy in 2018 and 2022. (Wfxt)
Click here to get Fox News app
Burtuchi did not respond to the request of Fox Business to comment.
