WELL, JIMMY, IT’S TRUE, BERTOLUCCI’S AT THE MALL OF NEW HAMPSHIRE IS NOW PERMANENT. LEE CLOSE, THE RESTAURANT’S PARENT COMPANY, BLAMES PANDEMIC INFLATION FOR WHY IT HAD TO FILE BANKRUPTCY. NOW IN THIS FILE BERTUCCI SAYS DUE TO THE COVID 19 PANDEMIC AND THE IMPACT OF INFLATION, SALES HAVE DECLINED WHILE SPENDING. IN 2021, THE RESTAURANT CHAIN HAD AN OPERATING LOSS OF $14 MILLION AND A NET LOSS OF $7.2 MILLION FOR TOUCHES ALSO FILED INTO BANKRUPTCY IN 2018. IT WAS SOLD TO THE COMPANY’S CURRENT OWNER ACQUIRED, 56 LOCATIONS IN NINE STATES. NOW, ACCORDING TO THE CHAIN’S WEBSITE, THERE IS ONLY ONE SITE OPEN TODAY FOR TWO. CHEESE HAS ALSO CLOSED THE ROCKINGHAM PARK SHOPPING CENTER LOCATION. THE NEW HAMPSHIRE OPEN SOLE IS NOW DOWN AND NOW AT TIME OF FILING BERTUCCI SAID HE EMPLOYED LITTLE MORE THAN. 1430 PEOPLE. NEWS 9 ASKED FOR BERTUCCI’S COMMENTS, BUT WE HAVE NO RESPONSE. AND TONIGHT THE STATE BUSINESS AND ECONOMIC AFFAIRS DIVISION TELLS US IT HAS NOT YET RECEIVED A CLOSURE NOTICE FROM BERTUCCI, BUT IT SAYS IT IS READY TO ASSIST ALL EMPLOYEES AFFECTED BY THAT. REPORT
Bertucci files for Chapter 11 bankruptcy, closure of 2 New Hampshire restaurants
Updated: 5:48 PM EST December 6, 2022
Only one Bertucci restaurant remains in New Hampshire after the abrupt closure of two other restaurants in the state on Monday. In the filing, the chain’s parent company cited the impact of COVID-19 and inflation, saying both led to lower sales and higher expenses. In fiscal 2021, the chain suffered an operating loss of $14 million and a net loss of $7.2 million. According to the company’s store location listing, the restaurant on Amherst Street in Nashua is the only remaining location in Granite State. It is still open every day at 11 am. Six Massachusetts restaurants have also apparently closed, according to a comparison of the company’s listing Tuesday and earlier this year. According to the company’s website, 31 Bertucci restaurants are still open nationwide, including 20 in Massachusetts, 1 in New Hampshire, and locations in Connecticut, Delaware, Maryland, New Jersey, Pennsylvania, Rhode Island and Virginia. In the filing, Bertucci’s was estimated to have between $10 million and $50 million in assets. No liabilities have been listed.
Only one Bertucci restaurant remains in New Hampshire after the abrupt closure of two other restaurants in the state on Monday.
The Manchester and Salem site closures come as the restaurant chain filed for Chapter 11 bankruptcy in federal court.
In the filing, the chain’s parent company cited the impact of COVID-19 and inflation, saying both led to lower sales and higher expenses. In fiscal 2021, the chain suffered an operating loss of $14 million and a net loss of $7.2 million.
According to the company’s store location listing, the restaurant on Amherst Street in Nashua is the only remaining location in Granite State. It is still open every day at 11 a.m.
Six Massachusetts restaurants have also apparently closed, according to a comparison of the company’s listing Tuesday and earlier this year.
According to the company’s website, 31 Bertucci restaurants are still open nationwide, including 20 in Massachusetts, 1 in New Hampshire, and locations in Connecticut, Delaware, Maryland, New Jersey, Pennsylvania, Rhode Island and Virginia.
In the filing, it was estimated that Bertucci had between $10 million and $50 million in assets. No liabilities have been listed.
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