Italian restaurant chain Buca di Beppo is the latest in the industry to file for Chapter 11 bankruptcy protection. It plans to restructure leases at more than 40 locations but has shut down operations at a dozen others, including its only location in the Carolinas located near Carolina Place Mall.

South Charlotte restaurant closing its doors

The Orlando, Florida-based company filed its petition in Dallas, Texas, citing “a significant drop in sales, rising food and labor costs, staffing challenges and changes in consumer preferences.”

Court filings list roughly $10 million to $50 million in assets and about $50 million to $100 million in liabilities, according to the Orlando Business Journal, Reuters and other outlets. The chain’s largest creditor listed was Houston-based wholesale food provider Sysco Corp. at $6.85 million.

Read the full story on CBJ’s website here for a list of locations that have closed.