In re: Bertucci’s Holdings, Inc., Case No. 18-10894 (MFW)

LRC served as sole bankruptcy counsel to Bertucci’s Holdings, Inc. and its affiliates (“Bertucci’s”). Bertucci’s is a well-known family restaurant offering traditional Italian food centered around its brick ovens, operating throughout the Northeast and Mid-Atlantic.  When Bertucci’s filed for Chapter 11 in the United States Bankruptcy Court for the District of Delaware (the “Chapter 11 Cases”), it had approximately sixty (60) restaurants and over four thousand (4,000) employees.  In connection with the Chapter 11 Cases, LRC, along with special corporate counsel, extensively negotiated debtor-in-possession financing (the “DIP Agreement”) and a stalking horse asset purchase agreement with affiliates of Right Lane Capital.  These negotiations also required extensive negotiations with Bertucci’s current secured lenders, owed in excess of $100 million, who ultimately consented to the DIP Agreement and the priming of their debt.  LRC prepared all operational motions in connection with the Chapter 11 Cases and advised Bertucci’s regarding all issues associated with the Chapter 11 Cases.  In addition, LRC, along with Bertucci’s other professionals, engaged in extensive marketing efforts which resulted in a successful auction topping the stalking-horse bid and increasing value to Bertucci’s stakeholders.  Following the auction, LRC successfully negotiated replacement debtor-in-possession financing with the successful bidder.  The sale was approved by the court on June 5, 2018 and closed on June 21, 2018.  Following the closing, LRC’s efforts include orchestrating a wind-down strategy.

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