Bertucci’s Bankruptcy Plan Includes Initial Bid From Right Lane

• Restaurant owes $119 million, buyer is offering $19.7 million • The move comes as sit-down restaurant chains struggle

Bertucci’s Inc., the chain of Italian eateries rooted in the Boston area, will be auctioned off after filing for bankruptcy protection amid intense competition for diners who have less time for sit-down dining

The closely held restaurant company, based in Northborough, Massachusetts, may close about half its locations and plans to hold an auction where the opening bid will be worth about $19.7 million, Chief Financial Officer Brian Connell said in court papers filed Sunday. An affiliate of Right Lane Capital ...