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Buca di Beppo
 Buca di Beppo is an American restaurant chain specializing in Italian-American food. The name roughly translates as "Joe's little hole" from Italian.[a] The chain of 81 establishments[2] (76 company-owned, 5 franchises in UK)[3] has been a subsidiary of Planet Hollywood since 2008. Menu The food at Buca di Beppo is served family style, each item served à la carte and shared among the dining party. Some locations also have a lunch menu, featuring individual-sized portions. In an attempt to boost sales during 2005, Buca introduced a Buca Mia menu, meaning "My Cellar", with less-expensive portions for two.[4] DecorEach room at Buca is themed. Each restaurant has a "Pope Table", a dining table with a bust of the current Pope atop a Lazy Susan.[5][6] The chain is known for its vintage photographs hung closely spaced throughout the restaurant.[citation needed] HistoryPhil Roberts founded Buca di Beppo in 1993 as an imitation of "red sauce joints", Italian-American family restaurants in the northeast United States. Not Italian himself, Roberts wanted his restaurant's stereotypical depiction of Italian-American culture to be "intentionally in bad taste, but good-natured bad taste". He hired Vittorio Renda, a Milanese chef, and Roberts's architect son decorated the restaurant with Italians' family photographs from flea markets. In 1996, a new CEO, Joseph Micatrotto, brought less exaggerated Italian-American cultural depictions, based on his family's history, to the chain as it prepared to go public.[7] The first restaurant, named Buca Little Italy, was opened in the basement level of a Minneapolis apartment building in 1993 by Twin Cities restaurant company Parasole Restaurant Holdings. Five years later, it was spun off and renamed Buca di Beppo.[8][9] By 1999, there were 21 locations when Buca, Inc. began trading on the NASDAQ stock exchange.[10][11][12] In December 2001, the company acquired the Boston-based Vinny Testa restaurant chain for $18 million. By this time, Buca operated 68 locations in 22 states.[13] In February 2005, the U.S. Securities and Exchange Commission ordered an investigation into the company to determine if it had violated securities laws relating to its accounting practices between February 2001 and March 2005. A month later, Buca had dismissed two top executives.[14] In February 2006, a class-action lawsuit was filed against Buca di Beppo on behalf of the company's investors, accusing the company of overstating its revenue and failing to follow generally accepted accounting practices.[14] Three Buca di Beppo sites were closed and the Vinny T's chain was listed as "discontinued operations" in the company's fourth quarter 2005 earnings statement.[15] Buca attempted to sell the Vinny T chain, but by May 2006, the company announced that it would instead convert the Vinny T's stores into Buca di Beppo locations.[16] On September 25, 2006, Buca, Inc. sold its 11 Vinny T's of Boston restaurants to Bertucci's Corp. for $6.8 million.[17] On June 7, 2006, the SEC filed securities fraud charges against Micatrotto, former CFO Greg Gadel, and former Controller Daniel J. Skrypek for stealing more than $200,000 from the company.[18][7][19] On August 5, 2008, Planet Hollywood's parent company, Planet Hollywood International, Inc., agreed to purchase the Buca chain for $28.5 million. Under terms of the deal, Buca became a wholly owned subsidiary of Planet Hollywood.[20] Its founder, Robert Earl, restored Buca di Beppo's gaudy decor of photographs covering walls.[7]  In 2011, Buca moved its headquarters from Minneapolis to Orlando, Florida, home of its parent company, citing financial incentives.[9] In 2012, Rick Tasman was named CEO & President.[21] In 2015, Rich Saultz was named the new CEO & President and is currently in that position.[citation needed] By 2016, the company had 100 locations in the U.S. and U.K.[22] As of 2019[update], the chain has 77 restaurants in 24 states; Honolulu is the highest-grossing location.[7] In 2019, Earl Enterprises announced that a point-of-sale credit card breach affected credit-card users who visited Buca (or other Earl Enterprise-owned restaurants) between May 23, 2018, and March 18, 2019.[23][24] BankruptcyOn August 1, 2024, Buca di Beppo abruptly closed 13 underperforming restaurants nationwide, blaming impact caused by the COVID-19 pandemic as part of the decision.[25] On August 5, 2024, Buca di Beppo filed for Chapter 11 bankruptcy. The company announced it would use bankruptcy proceedings to improve operations and will also sell itself.[26] On November 6, 2024, it was announced that Buca di Beppo would be sold to private equity firm Main Street Capital Corporation for $27 million after a deal was approved in bankruptcy court on November 1.[27] See alsoNotes
References
External links Wikimedia Commons has media related to Buca di Beppo.
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