Buca di Beppo Files For Bankruptcy; 4 MN Locations Part Of Restructuring

MINNEAPOLIS — Buca di Beppo has filed for bankruptcy, the family-style Italian restaurant chain founded in Minnesota announced this week.

The business disclosed the Chapter 11 filing Monday but said its locations would operate as usual, with gift cards, reservations and promotions remaining active as it restructures 44 restaurants and takes steps to open one new one.

Buca has four locations in Minnesota, including in Minneapolis, St. Paul, Maple Grove and Eden Prairie.

The business’ bankruptcy filing follows similar action in recent months by Red Lobster and Rubio’s Coastal Grill.

“While the restaurant industry has faced significant challenges, this move is the best next step for our brand,” President Rich Saultz said in a news release.

Buca will cancel leases on at least 12 locations it had closed, according to Bloomberg, which reported the business cited declining sales, higher costs and hiring troubles in the filing, noting it owed creditors up to $50 million.

"We believe this path will best allow us to continue to serve Buca's patrons and communities for many years to come,” Chief Restructuring Officer William Snyder said in the news release. “We are open for business in 44 locations, and we expect day-to-day operations to continue uninterrupted.”

Buca was founded in Minneapolis in 1993 but is now headquartered in Orlando.