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Business

2 New Hampshire Bertucci’s restaurants close after bankruptcy




There is only one Bertucci’s restaurant left in New Hampshire after two more restaurants in the state closed abruptly Monday. The closures of the Manchester and Salem locations 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 a decline in sales and an increase in expenses. In fiscal year 2021, the chain posted an operating loss of $14 million and a net loss of $7.2 million. A Bertucci’s employee who wished to remain anonymous said staff found out the Mall of New Hampshire location was closing permanently during a meeting Monday morning. “I went pretty blind,”[ads1]; the employee said. “I didn’t think that was what the meeting was going to be about. I expected it to be about how we were going to push the holiday.” According to the company’s store listing, the restaurant on Amherst Street in Nashua is the only location left in the Granite State. It is still open every day at 11 a.m. Employees were offered a severance package or a transfer to the Nashua location.”However, after speaking with the management team, they have been inundated with people from the Salem location and they have a boatload of servers there already,” the employee said. “So they won’t be able to deliver on the promise of a transfer.” Now many are left looking for a new place to work. “Not the best business decision by Bertucci’s to close two locations right before the holidays,” the employee said. Six restaurants in Massachusetts have also apparently closed, according to a comparison of the company’s IPO on Tuesday and from earlier this year. According to the company’s website, there are still 31 Bertucci’s restaurants open in the country, including 20 in Massachusetts, the 1 in New Hampshire and locations in Connecticut, Delaware, Maryland, New Jersey, Pennsylvania, Rhode Island and Virginia. it was estimated that Bertucci’s has between $10 million and $50 million in assets. No commitments were listed.

There is only one Bertucci’s restaurant left in New Hampshire after two more restaurants in the state closed abruptly Monday.

The closure of the Manchester and Salem locations comes 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 a decline in sales and an increase in expenses. In fiscal year 2021, the chain posted an operating loss of $14 million and a net loss of $7.2 million.

A Bertucci’s employee who wished to remain anonymous said staff found out the Mall of New Hampshire location was closing permanently during a meeting Monday morning.

“I went pretty blind,” the employee said. “I didn’t think that was what the meeting was going to be about. I expected it to be about how we were going to push the holiday.”

According to the company’s store listing, the restaurant on Amherst Street in Nashua is the only location left in the Granite State. It is still open every day at 11

Employees were offered a severance package or transfer to the Nashua location.

“But after talking to the management team, they’ve been flooded with people from the Salem location and they have a boatload of servers there already,” the employee said. “So they won’t be able to deliver on the promise of a transition.”

Now many are again looking for a new place to work.

“Not the best business decision by Bertucci’s to close two locations right before the holidays,” the employee said.

Six restaurants in Massachusetts have also apparently closed, according to a comparison of the company’s IPO on Tuesday and from earlier this year.

According to the company’s website, there are still 31 Bertucci’s restaurants open in the country, including 20 in Massachusetts, the 1 in New Hampshire and locations in Connecticut, Delaware, Maryland, New Jersey, Pennsylvania, Rhode Island and Virginia.

In the filing, it was estimated that the Bertuccis have between $10 million and $50 million in assets. No commitments were listed.



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