CINCINNATI (WKRC) – An Italian restaurant chain with four Cincinnati-area locations has filed for a second bankruptcy in five years.
Bravo Brio Restaurants, the parent company of upscale Italian dining chains Bravo Cucina Italiana and Brio Tuscan Grille, on Monday filed for Chapter 11 bankruptcy after having done so in 2020 shortly after the outbreak of the pandemic. The Orlando-based company, known for its Tuscan-inspired cuisine, cited assets and liabilities estimated between $50 million and $100 million, per a court finding. The Chapter 11 process will enable Bravo Brio Restaurants to close underperforming locations, restructure debt, and cut costs.
Bravo Brio, which was founded in Columbus, Ohio, attributed its financial struggles to “macroeconomic forces beyond the company’s control,” including declining consumer demand and increased competition from fast-casual alternatives, it said in a statement reported by Restaurant Business. The company also pointed to “outgoing inflationary pressure, rising food and labor costs and a softening in discretionary consumer spending” as contributing factors to its underperformance, particularly 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,” the company said, via Restaurant Business.
The exact number of restaurant closures remains uncertain, but reports indicate that both Bravo and Brio have been shutting down locations. The company reportedly operates 25 Brio Tuscan Grille and 23 Bravo Cucina Italiana locations, according to its websites. Bravo Italian Kitchen shows restaurants in West Chester and Mason, with Brio Italian Grille restaurants at Liberty Center and Newport on the Levee.
Dining and Cooking