US EditionPopular Italian Restaurant Chain Files for Bankruptcy
Bravo Brio faces financial pressures with $50 million to $100 million in assets and liabilities, aiming to restructure by closing underperforming sites and seeking new investors.
- This week, Bravo Brio Restaurants, parent of Bravo Italian Kitchen and Brio Italian Grille, filed for Chapter 11 bankruptcy, enabling it to close underperforming locations during reorganization.
- Company statements point to macroeconomic headwinds including declining demand and rising competition; ongoing inflationary pressure, rising food and labor costs, and softening discretionary consumer spending hurt performance, especially in shopping centers with high vacancies.
- Filings in Orlando detail assets and liabilities between $50 million and $100 million, 200 to 999 creditors, and debts including $1.9 million to Sysco and $335,000 to a restaurant supplier in Illinois.
- Management plans to use Chapter 11 to restructure, including closing underperforming locations, debt restructuring and operational streamlining, while seeking new investors to emerge stronger.
- The filing adds to a wave of Italian-dining bankruptcies this year including People First Pizza in March, Bertucci's in April and Red Door Pizza last month, while Bravo Brio's 2020 bankruptcy and 48 closures reflect broader dining-sector trends.
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abc10 Sacramento+9 Reposted by 9 other sources
Popular Italian restaurant chain files for bankruptcy
It's unclear how many Brio Italian Grille and Bravo! Italian Kitchen locations will close as part of the bankruptcy process.
·Sacramento, United States
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Popular Italian chain with first restaurants in Columbus files for bankruptcy, abruptly closes 3 Ohio locations due to ‘inflation’
Arrivederci to a popular Italian chain that opened its first pair of sister restaurants right here in Columbus back in the ‘90s. Bravo Brio Restaurants, parent company of Bravo Italian Kitchen and Brio Italian Grille, filed for Chapter 11 bankruptcy for the second time in five years in order to reorganize and restructure business operations… Source
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Leaning Left2Leaning Right0Center12Last UpdatedBias Distribution86% Center
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C 86%
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