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This Italian Restaurant Group Just Filed For Bankruptcy, Threatening All Of Its Locations Across 20 States
At the time, over 50 of the restaurant group's locations were closed. Now, this week's filing news threatens to shut down more of the still-standing 31 Brio and 25 Bravo locations. It's highly likely that this will mean more restaurant shutdowns, specifically locations that are underperforming financially. This will add to several restaurant spots already closed this year, such as mall locations in Virginia and other states. In a press release regarding the filing via Restaurant Dive, Bravo Brio stated that like other dining groups, it plans to use the "bankruptcy as a tool for restructuring," referencing reasons for recent financial struggles including but not limited to pandemic-related restaurant shifts (such as the rise in fast-casual eateries), inflation, rising debt, and operational expenses.Thank goodness the gop is pro business.