The restaurant group owns two chains, and each have nearly 25 locations across the U.S.
An Italian chain has filed for bankruptcy for the second time in five years(Image: Getty Images)
An Italian restaurant chain has filed for bankruptcy for the second time in five years.
Bravo Brio Restaurants LLC and its subsidiaries have filed for Chapter 11 bankruptcy protections in order to improve its financial position, Nation’s Restaurant News reported. The Orlando, Florida-based brand operates Bravo! Italian Kitchen and Brio Italian Grille.
This comes as several fast-casual restaurants have seen better days. Award-winning pizza chain Bertucci’s closed several locations after filing for bankruptcy for the third time in seven years. It is following in the footsteps of bankrupt businesses like TGI Fridays, Red Lobster, Bucca di Beppo, and On the Border.
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The Chapter 11 process allows a business to reorganize for “a sustainable and successful future, including closing underperforming locations, restructuring debt, and streamlining and reducing operational expenses.”
Bravo Brio told NRN in a statement: “In addition, ongoing inflationary pressure, rising food and labor costs, and a softening in discretionary consumer spending have contributed to underperformance, especially in shopping centers with high vacancies and declining foot traffic.
“These pressures have proved insurmountable to numerous other legacy, casual-dining restaurant brands, many of whom have also turned to bankruptcy as a tool for restructuring.”
Bravo Brio Restaurants first filed for bankruptcy in 2020
Bravo! Italian Kitchen was first started in 1992, serving made-to-order pasta, brick oven pizzas, grilled chops and steaks. Its website says there are 23 Bravo! Italian Kitchen locations across the U.S.
Brio Italian Grille has 25 locations across the U.S. The chain is an upscale affordable dining experience serving Italian food and a family-friendly Roman ruin decor.
Bravo Brio first filed for bankruptcy in 2020, and it was bought by Earl Enterprises shortly after. Earl Enterprises also owns Buca di Beppo, Earl of Sandwich, and Planet Hollywood.
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Dining and Cooking