April 17, 2018 / 12:19 AM / 3 months ago

Bertucci's restaurant chain files for bankruptcy, aims for quick exit

Casual family restaurant chain Bertucci’s filed for Chapter 11 bankruptcy protection on Sunday, blaming price competition and diners opting for cheaper, faster alternatives.

The Northborough, Massachusetts-based chain, which prides itself on its brick oven pizzas, in court papers said its sales and revenue have declined on a year-over-year basis, prompting cost-cutting measures and lease negotiations. But even with those efforts, Bertucci’s said it struggled to pay its roughly $119 million debt and defaulted on a loan, forcing it to seek bankruptcy protection.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2HEi5Py

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