On August 4, 2024, Buca di Beppo filed for Chapter 11 bankruptcy. As has often been the case with restaurant bankruptcy filings over the last few years, they’re low on assets (only $0-$50,000) and high on debt ($15-$50 million).
They also announced that they’d closed 13 of their locations with immediate effect which represented almost a quarter of their restaurants. By filing for bankruptcy, they’re hoping to restructure the organization while remaining open for business.
What Should You Do With Buca di Beppo Gift Cards?
If you have any Buca di Beppo gift cards, those are still redeemable at their restaurants. Considering the abrupt closure of many of their locations in recent days though, it’d be worth using them ASAP. Even if the Chapter 11 bankruptcy succeeds and they continue in business long term, there’s no guarantee that their restaurant(s) near you will remain open.
Another option would be resell your gift cards on a site like GCX/Raise or CardCash (our affiliate link). You’d have to sell at a substantial discount though as GCX has them for up to 23.6% off, while CardCash is selling them for almost 27% off but is only offering 54% cashback if selling to them directly. Matters aren’t helped by the fact that Buca di Beppo gift cards had – until recently – been available for 20% off or more every day of the week at Costco and Sam’s Club via Best of Italy gift cards.
If you’re not familiar with Best of Italy gift cards, they’re a multi-brand gift card that can be used at Buca di Beppo, Brio, Bravo! and Bertucci’s. I’d therefore assumed that they were owned by the same parent company, but that’s not the case. Buca di Beppo is its own entity, while Brio, Bravo! and Bertucci’s are owned by Earl Enterprises. If you’re holding Best of Italy gift cards rather than Buca di Beppo gift cards specifically, at least you’ll still have three other brands they can be redeemed at in the event that Buca di Beppo does end up closing its restaurant(s) near you and/or goes out of business completely.