MJP –
A chain of Italian restaurants has recently begun making abrupt closures around the country, drastically cutting their footprint by more than 20%.
Thirteen locations around the country the Buca di Beppo business, which originated in Florida and is known for its family-style meals, has suddenly closed its doors.
The sites failed to bounce back from the pandemic and other market challenges, according to a statement from parent company Earl Enterprises.
Among the cities that lost their eateries were Colonie, New York; Livonia and Utica, Michigan; Springs Township, Pennsylvania; and Sacramento, California.
With 44 sites around the country, Buca di Beppo is now officially closed.
Since reaching a peak of 95 sites in 2013, the Orlando-based brand recognized for family-style Italian-American cuisine has been steadily liquidating restaurants.
According to data from Technomic, systemwide sales experienced a 4.7% fall last year.
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The full-service market is struggling with increasing costs and declining traffic, which has led to the closure of several casual-dining franchises recently.
Hooters, TGI Fridays, O’Charley’s, and Red Lobster are among the others.
Virtual Dining Concepts, a division of Earl Enterprises, owns MrBeast Burger, Pardon My Cheesesteak, and other digital concepts; during the pandemic, several Buca di Beppo locations served as delivery-only centers for these businesses.
Beginning in 1993 in Minneapolis as an archetypal “red sauce joint” adorned with framed family portraits and other Italian-themed kitsch, the franchise has now expanded around the country.
It went public in 1999 after rapid expansion, but in 2005, three executives became the targets of an SEC investigation concerning possible fraud.
Hundreds of thousands of dollars were stolen from the company by its CEO, CFO, and controller, who subsequently pled guilty.
In 2008, the franchise was purchased for $28.5 million by Planet Hollywood International, which is Robert Earl’s company.
