Make us your home page
Instagram

Tampa's popular Alessi Bakery files for bankruptcy, remains open

TAMPA — Alessi Bakery, a well-known establishment run by four generations of one family, has filed for Chapter 11 bankruptcy.

The restaurant and bakery on W Cypress Street remains open.

"Everything is business as usual," sales manager Jason Alessi said.

Alessi, incorporated as Phil's Cake Box Bakeries, filed for bankruptcy protection due to an inability to pay its debt amid declining sales and an overleveraged manufacturing facility, according to documents filed Sept. 5 with the U.S. Bankruptcy Court's Middle District of Florida in Tampa.

The business reported $11.9 million in gross revenues for 2011. Documents show it has assets of $14.5 million, compared with liabilities totaling $14.7 million.

Jason Alessi said the filing is intended to reorganize the company's debt, due to business being off.

He said the company is not cutting back and isn't laying off any of its 150 employees.

"It was just a matter of the tough economic times," he said.

Alessi has been operating in Tampa almost continuously since 1912, when Nicolo Alessi, originally from Italy, opened a bakery on Cherry Street and delivered Italian and Cuban bread by horse and wagon.

Phil Alessi Sr., Nicolo's grandson, has passed the top job on to his son, but has remained on board as the company expanded.

One of the biggest expansion moves was the 2008 opening of a $20 million, 100,000-square-foot manufacturing plant off Waters Avenue in Town ’N Country.

The company ships its products to retailers such as Publix and Food Lion and food service companies such as Sysco.

Jason Alessi said he does not expect production to scale back.

The business will celebrate its 100-year anniversary next month.

Tampa's popular Alessi Bakery files for bankruptcy, remains open 09/14/12 [Last modified: Saturday, September 15, 2012 12:05am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Trigaux: How Moffitt Cancer's M2Gen startup won $75 million from Hearst

    Business

    TAMPA — A Moffitt Cancer Center spin-off that's building a massive genetic data base of individual patient cancer information just caught the attention of a deep-pocketed health care investor.

    Richard P. Malloch is the president of Hearst Business Media, which is announcing a $75 million investment in M2Gen, the for-profit cancer informatics unit spun off by Tampa's Moffitt Cancer Center. Malloch's job is to find innovative investments for the Hearst family fortune. A substantial amount has been invested in health care, financial and the transportation and logistics industries.
  2. Three-hour police standoff ends, thanks to a cigarette

    News

    TAMPA — A man threatening to harm himself was arrested by Tampa police on Tuesday after a three-hour standoff.

  3. Another Hollywood nursing home resident dies. It's the 9th in post-Irma tragedy.

    State Roundup

    The Broward County Medical Examiner's office is investigating another death of a resident of the Rehabilitation Center at Hollywood Hills — the ninth blamed on the failure of a cooling system that became a stifling deathtrap three days after Irma hit.

    Carlos Canal, pictured at 47 years old, came to Miami from Cuba in 1960. Above is his citizenship photo. [Courtesy of Lily Schwartz]
  4. Despite Hurricane Irma, Hillsborough remains on pace to unlock hotel tax that could pay for Rays ballpark

    Tourism

    TAMPA — Despite the threat of a catastrophic storm, it was business as usual at many Hillsborough County hotels in the days before Hurricane Irma bore down on the Tampa Bay region.

    The Grand Hyatt near TIA closed during Hurricane Irma, but many other Hillsborough hotels were open and saw an influx.
  5. New Graham-Cassidy health care plan stumbles under opposition from governors

    Nation

    WASHINGTON — The suddenly resurgent Republican effort to undo the Affordable Care Act was dealt a blow on Tuesday when a bipartisan group of governors came out against a proposal gaining steam in the Senate.

    Sen. Lindsey Graham, R-S.C., joined by, from left, Sen. Roy Blunt, R-Mo., Majority Whip John Cornyn, R-Texas, Sen. John Barrasso, R-Wyo., Sen. Bill Cassidy, R-La., Senate Majority Leader Mitch McConnell, R-Ky., and Sen. John Thune, R-S.D., speaks to reporters as he pushes a last-ditch effort to uproot former President Barack Obama's health care law, at the Capitol in Washington, Tuesday, Sept. 19, 2017. To win, 50 of the 52 GOP senators must back it -- a margin they failed to reach when the chamber rejected the effort in July. [/J. Scott Applewhite | Associated Press]