Bertucci’s Brick Oven gets further interim access to cash collateral

By Sarah Lizee

Olympia, Wash., April 17 – Bertucci’s Restaurants, LLC, which does business as Bertucci’s Brick Oven Pizza & Pasta, gained further interim approval to access cash collateral, according to a fifth interim order filed Monday with the U.S. Bankruptcy Court for the Middle District of Florida.

The company owes about $21 million on two credit facilities from PHL Holdings, LLC. The loans are secured by a blanket lien on the debtor’s assets.

As adequate protection for the use of cash collateral, the debtor is proposing to grant the lender a replacement lien.

A further hearing is scheduled for June 15.

Bertucci’s is an Orlando, Fla.-based operator of 47 Italian-themed restaurants. The company filed Chapter 11 bankruptcy for a second time on Dec. 5 under case number 22-04313.

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