Bertucci's to Auction Off Remaining Stores
Company files for Chapter 11 Bankruptcy with plans to sell remaining 59 pizzerias.
Bertucci's, a brick oven pizzeria chain founded in the Boston area in 1981 and operating in 11 east coast states, filed for Chapter 11 Bankruptcy today, according to a company press release.
Right Lane Dough Acquisitions, LLC. has agreed to purchase all of Bertucci’s assets and assume certain liabilities, subject to higher or otherwise better offers, according to the release.
Bertucci's will consider all bids in an open bankruptcy court-approved sale process, which will occur in the near future.
The following statement was released on Bertucci's Facebook page this morning:
"Today we announced a restructuring that will strengthen our brand for the long-term, though will significantly impact our restaurants, team members, colleagues and friends in the short term with the closing of 15 locations. We are taking several actions to provide support for our impacted team members: Many will transfer to another Bertucci's restaurant, and for those who do not, we will do our best to help them find employment in their communities. Looking forward, we are in this for the long haul, and have made this move to position Bertucci's for future growth. We remain focused on our team and our guests, making scratch brick oven pizzas and rolls as we have since 1981. We are grateful for the support of so many – we have read your posts and it means so much! To our team members and guests, we thank you and appreciate your support over the years."