Bertucci’s, an Italian-restaurant chain with locations across the East Coast, is preparing to file for bankruptcy, according to Bloomberg.
The Massachusetts-based company, which is best known for its brick-oven pizza, is reportedly lining up a buyer who would take control of the business after the filing. Company officials could not be reached for comment.
Bertucci’s financial woes are reflective of a broader trend for sit-down restaurant chains, which are struggling to maintain a steady clientele.
n February, Dine Brands Global announced it was closing up to 120 additional restaurants in 2018, after shuttering more than 100 Applebee’s and IHOP locations the previous year. The company reported a net loss of $324 million in fiscal 2017, compared to $96.6 million in 2016.
And Bloomin’ Brands, which owns Bonefish Grill, Carrabba’s and Outback restaurants, closed 43 of its 1,500 restaurants last year, citing declining sales numbers.
