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Pizza Chain Bertucci’s Files for Chapter 11 Protection

This week, Massachusetts-based pizza chain Bertucci’s filed for Chapter 11 bankruptcy protection in the Delaware (seeking joint administration under case No. 18-10894). Bertucci’s operates 59 stores, 29 of which it plans to reject.

According to The Wall Street Journal, an affiliate of Chicago-based investment firm Right Lane Capital LLC has agreed to purchase the chain’s assets, but that bid will be tested at a bankruptcy-court supervised auction.

Hilco Real Estate was hired in January to review its leases and negotiate better terms. The debtors report that this effort saved $3.5 million. However, the restaurant’s sales continued to fall since 2011, and a forbearance agreement with lenders expired earlier this year.

The company is part of a wave of other casual eateries—including Joe’s Crab Shack, Romano’s Macaroni Grill, Così Inc. and Logan’s Roadhouse, which recently filed for Chapter 11 bankruptcy protection.

COPYRIGHT © 2020, STARK & STARKNational Law Review, Volume VIII, Number 109
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About this Author

Thomas S. Onder, Stark Stark Law Firm, Retail Litigation Lawyer, Commercial Issues Attorney
Shareholder

Thomas S. Onder is a Shareholder and member of the Commercial, Retail and Industrial Real Estate, Litigation and Bankruptcy & Creditors’ Rights Groups of Stark & Stark. Mr. Onder is a member of the International Council of Shopping Centers (“ICSC”) and concentrates his practice in the area of commercial litigation, specializing in commercial landlord...

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