Italian Eatery Chain Buca di Beppo Files Bankruptcy to Cut Debt.

Italian restaurant chain Buca di Beppo has filed for bankruptcy in order to reorganize its business. The company plans to cancel leases on at least twelve locations that have already been closed. Buca di Beppo cited lower sales, rising costs, and difficulties in hiring as the reasons for its financial troubles. The restaurant chain currently operates 44 locations in 14 states and has asked for permission to cancel contracts it can no longer afford. Several other dining chains, including Rubio's Coastal Grill, Red Lobster, and Tijuana Flats, have also sought bankruptcy protection this year due to similar issues. [Extracted from the article]