Italian-American restaurant chain Buca Di Beppo files for Chapter 11 bankruptcy

Italian-American restaurant chain Buca Di Beppo has filed for Chapter 11 bankruptcy.

According to the court filing, the Orlando-based company holds up to $10 million to $50 million in assets and $50 million to $100 million in liabilities. It owes between $15 and $50 million to at least 30 creditors.

This comes just days after the restaurant chain closed 13 stores that were deemed as underperforming. There weren't any California stores among that list.

The company is struggling financially amid a big slump in sales, in addition to rising food and labor costs.

Correction: A previous version of this story stated the company had up to $50K in assets. This has since been corrected.