TAMPA, Fla. — One of Tampa's foodie institutions has filed for chapter 11 bankruptcy protection.
Brocato’s Sandwich Shop in East Tampa is doing what I can to stay open after racking up nearly one and a half million dollars in debt following the pandemic.
For nearly eight decades, the eatery has been packed with locals hungry for the legendary lunch spot's Cuban sandwiches and devil crab.
“Can't get any more Tampa, I guess, then eating here,” said Devan Ehrlich, who drove from Gainesville with friends just to enjoy a meal.
“Yes, generational, you know?” said Khary Whitehead, who’s been eating at the restaurant since he was a kid. “It's always been here, you know?”
And yet despite clearly being a local favorite, Brocato’s has been having financial issues.
This past week, attorneys for the restaurant filed for chapter 11 bankruptcy protection.
“Luckily, the revenues are still strong, and we feel pretty strong and pretty comfortable that we will emerge successfully,” said Brocato’s Attorney Jonathan Semach.
Semach explains the legal maneuver is meant to keep Brocato’s open as it tries to restructure its debt, which totals more than $1.4 million, including about $700,000 to the Florida Department of Revenue in back taxes fees and penalties.
“That's the goal,” Semach said. “Is to present a reorganization form. Get the court to confirm it, and then they'll make payments under the reorganization plan. And go forth from there.”
Semach says Brocato’s was able to make it through the Covid-19 pandemic, but had struggled like other restaurants. And despite business slowly improving revenues, its debt has been snowballing.
Loyal customers say they'll keep doing their part to help by visiting regularly.
“It kind of hurts because this has been here so long, we really don't want to see it go,” said customer Nicole Potvine. “We love the sandwiches. Love the potatoes. Devil crab. The food is always great.”
“I don't want to see this place go,” Whitehead said. “If they can stay on this corner right here it would be a blessing. “
At the time of the bankruptcy filing, Brocato’s also had 13 employees, so staying open is obviously important to them as well.
The restructuring plan is being reviewed by a judge.
If it’s signed off on, the idea is for Brocato’s, which first opened its doors in 1948, to keep serving up local favorites for several more decades to come.