This week on Nation's Restaurant News the top story was Bertucci’s files for bankruptcy for the second time in four years. According to the court documents filed with the U.S. Bankruptcy Court with the Middle District of Florida on Dec. 5, the casual-dining Italian chain is at least $48.85 million in debt ($20.85 million in secured loans, $26.5 million in unsecured loans, and $1.5 million in state taxes), owing money to a few hundred creditors—mostly landlords for rent-related debts. In total, the company is claiming between $50 million and $100 million in liabilities and between $10 million and $50 million in assets.
In other news, The Wendy’s Co. is introducing a new Italian Mozzarella Chicken Sandwich and garlic fries to its winter menu, the company said Wednesday.
The Dublin, Ohio-based quick-service brand joins a growing number of quick-service brands offering new twists this week on the chicken sandwich staple, including a Burger King Italian versionIntroduced on Monday and Popeyes Louisiana Kitchen blackened chicken sandwich.
Also, some restaurant chains appear to be impacted more by macroeconomic uncertainty and inflationary pressures than others: While Cracker Barrel’s revenues grew 7% in the first quarter ended Oct. 28, thanks in large part to multiple price increases (totaling 7.8%), profits were down as a result of astronomical commodity costs.
Price increases not only helped to keep Cracker Barrel’s revenues and average check afloat, but same-store sales growth of 4.3% as compared with last year was boosted by a return to normalcy following the prevalence of the COVID-19 Delta variant at the same time in 2021.
See what else was trending on NRN.com this week.