A Massachusetts-based restaurant chain has filed for Chapter 11 bankruptcy as it works to restructure the company.
Bertucci's said on Monday that it filed voluntary Chapter 11 petitions with a federal bankruptcy court in Delaware.
The company noted that there is also an asset purchase agreement with Right Lane Dough Acquisitions to purchase substantially all of Bertucci's assets and take on certain liabilities.
That transaction is subject to higher or better offers and a court-approved sale process.
“Today’s filing is expected to be seamless for Bertucci’s guests, trading partners and vendors, and result in minimal disruption to its operations, allowing us to strengthen the company’s financial structure and position it for significant future growth," said Bertucci's CEO Brian Wright in a statement.
The company noted that 59 locations that would remain open and 15 locations would close. They added that they would update their website to reflect the stores that would remain open.
Monday afternoon, that list was updated and locations in Amherst, Longmeadow, and West Springfield were not on that website.
Calls by Western Mass News to each of those three western Massachusetts locations indicated via a pre-recorded message that that store was closed.
"We are grateful for the service and loyalty of our team members and are looking forward to focusing on a return to Bertucci’s roots: authentic, high quality, fresh ingredients that guests and team members alike crave and care about," Wright added.
Copyright 2018 Western Mass News (Meredith Corporation). All rights reserved.