New Delaware Chapter 11 – Bertucci’s Holdings, Inc.

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Bertucci’s Holdings, Inc., along with nine subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10894).  Bertucci’s, headquartered in Worcester, MA, is a brick oven Italian eatery with fifty-nine (59) locations through the Northeast and Mid-Atlantic.  According to the First Day Declaration, Bertucci’s enters Chapter 11 intending to immediately reject 29 of its leases and intends to pursue a sale of substantially all of its assets, with Right Lane Dough Acquisition, LLC, as stalking horse purchaser.  Bertucci’s is also seeking approval to borrow up to $4 million in DIP Financing from Right Lane Dough.  Bertucci’s proposed bid procedures seek to have the auction held on May 29, 2018, and the Sale Hearing held on May 30, 2018.  Prime Clerk LLC is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Mary F. Walrath.

Contact Norman L. Pernick or G. David Dean for more information regarding this matter.  Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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