Bertucci’s, a Massachusetts-born pizza chain that has expanded around the East Coast, has filed for bankruptcy and will immediately close 15 locations. The Northborough-based company known for its brick oven pizzas and Italian entrees announced the news on Monday, April 16, after reports last week that such a filing was imminent. As the company restructures, 59 Bertucci’s locations are expected to remain open. The company will update its website later today and announce a list later this week naming the 15 shuttered locations.
A statement from the company indicated that the decision solidifies its commitment to long-term growth while helping employees through the changes:
We will help our affected team members thru transfers to other Bertucci’s or help securing new jobs locally. We’ve made this move to position Bertucci’s for future growth. We remain focused on our team & guests, making from-scratch pizzas and rolls as we have since 1981. We’re grateful for the support of team members & guests.
Under the asset purchase agreement, Bertucci’s will restructure and come under new ownership. Already this year, Bertucci’s shuttered several locations, including those in Wellesley, Kenmore Square, and at Faneuil Hall. The rumors of the bankruptcy filings were reported by various outlets at the end of last week.
A news release posted to the company’s website also quoted CEO Brian Wright: “Today’s filing is expected to be seamless for Bertucci’s guests, trading partners and vendors, and result in minimal disruption to its operations, allowing us to strengthen the company’s financial structure and position it for significant future growth.”
Bertucci’s first opened in Somerville’s Davis Square in 1981. The Elm Street space featured bocce in the basement. That location has since closed; it was a Subway for a while, and it’ll be a cafe called Revival next.
• Bertucci’s Files for Chapter 11 Bankruptcy [BM]
• Bertucci’s Files for Chapter 11 Restructuring for Future Growth [Bertucci’s]