Olive Garden rival Brio shuts 110 restaurants, just 38 remain

While a Chapter 11 bankruptcy can sometimes allow a business to reset its finances and return to growth, in other cases, it simply prolongs the inevitable.

Chuck E. Cheese, for example, filed for Chapter 11 bankruptcy in 2020, emerging with $700 million less debt, fewer restaurants, and $300 million it invested in modernizing its operations.

"CEC Entertainment, which also includes Pasqually's Pizza & Wings and Peter Piper Pizza, has seen eight straight months of same-store sales growth, according to CEO Dave McKillips. The company isn't publicly traded, but it discloses its financial results to its bond investors," according to CNBC.

That type of post-bankruptcy success happens, but it's certainly not guaranteed.

Bravo Brio Restaurant Group, which filed for Chapter 11 in 2020, filed again in 2020. And, while the company does not share official store counts, a company press release from 2016 showed that it had 118 operating restaurants between its Bravo and Brio brands, down from a high of 130.

Bravo Brio filed a second Chapter 11 bankruptcy

Bravo Brio Restaurant Group filed its second Chapter 11 bankruptcy in August in the Florida Middle Bankruptcy Court in August, 2025, according to documents filed on Pacer Monitor.

The chain said in a statement at the time of the filing that the Chapter 11 process will allow it to close underperforming locations, restructure its debt, and cut costs, Restaurant Business reported.

Bravo Brio, which competes directly with Darden's Olive Garden brand, blamed the economy for its struggles.

"In addition, outgoing inflationary pressure, rising food and labor costs and a softening in discretionary consumer spending have contributed to underperformance, especially in shopping centers with high vacancies and declining foot traffic," the company said. "These pressures have proved insurmountable to numerous other legacy casual-dining restaurant brands, many of whom have also turned to bankruptcy as a tool for restructuring."

Between its first bankruptcy and the second filing, Bravo Brio had continued to close restaurants.

The company no longer reports financial results, but Brio's website now shows 19 remaining locations spread across 10 states. Under the Bravo brand, the company also shows 19 remaining locations spread out over the same number of states.

Bravo Brio 2025 Chapter 11 quick facts

As part of its court-supervised restructuring process, Bravo Brio Restaurant Group disclosed detailed financial and creditor information in its Chapter 11 filings.

Bravo Brio Restaurant Group reported the following in its Chapter 11 case, according to according to filings available via PacerMonitor in the U.S. Bankruptcy Court for the Middle District of Florida.

• Liabilities of $10 million to $100 million
• Between 200 and 999 creditors
• Sysco Corp. listed as the largest unsecured creditor
• Significant obligations to landlords and property managers across multiple states

Court filings on PacerMonitor also show that GPEE Lender, LLC, the company's prepetition senior secured lender, provided debtor-in-possession financing through a $3.5 million revolving credit facility approved during the Chapter 11 process.

Taken together, the filings reflect the broader pressures facing legacy casual-dining chains operating under rising costs and shifting consumer demand.

What went wrong for Bravo Brio?

While the pandemic hurt the chain and current economic conditions have presented ongoing challenges, The Street advisor and RTM Nexus CEO Dominick Miserandino thinks that Bravo Brio lost its way.

"I actually went down the rabbit hole on this one, and it's kind of actually interesting to me because I think it worked when Brio mimicked the independent family Italian restaurant feel, so that people had a choice between the independent family Italian restaurant or Olive Garden," he said.

But, after the first bankruptcy, he noted that private equity made the chain more like its rival.

"Once the PEs and corporate took over, it became a little more corporate feeling, and I think that removed the choice because now you had the corporate feeling Olive Garden on one end of the spectrum, and actual local family restaurants," he added.

Brio, Miserandino shared, sacrificed what made it special, giving customers no reason to go there.

Restaurant Dive noted that Bravo and Brio had heavy exposure in malls, which exacerbated their struggles.

"The chains have had difficulty with restaurants located in shopping centers that have high vacancies and low foot traffic, problems which have only worsened with discretionary consumer spending softening. The press release also cited ongoing inflationary pressures and increased food and labor costs as contributing to its deteriorating financial condition," the website reported.

Related: Major pizza chain might sell business after closing 250 locations

Brio is not the only Italian chain struggling

A location-level example helps illustrate how Brio's struggles have played out in practice. Not every Brio that closed shut down because of poor sales.

The Brio Italian Grille at 550 S. Rosemary Ave in West Palm Beach's CityPlace is listed as permanently closed on Yelp. That location ultimately shut down as the district shifted toward higher-end redevelopment and a changing tenant mix.

The West Palm Beach Brio closed along with a Cheesecake Factory, Rita's Italian Ice, and a Moe's Southwest Grill as the shopping plaza added an Eataly, along with a number of restaurants imported from Manhattan.

The chain is not alone in those struggles. Bertucci's and Bucca di Beppo both filed for Chapter 11 bankruptcy, and Romano's Macaroni Grill survived bankruptcy but has been in steady decline.

Securities Analyst Andy Barish, of Jefferies Equity Research, noted that chains like Brio are stuck in the middle.

"More consumers are opting for either cheaper (fast casual) or more expensive (fine dining) options, which doesn't bode well for casual dining. This segment just seems to be stuck in the middle," The Motley Fool reported.

Related: Burger chain franchisee in bankruptcy is liquidating 49 stores

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This story was originally published May 31, 2026 at 9:13 AM.