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. Tampa is 15th-most popular city to move to with U-Haul

    Markets

    TAMPA —Tampa is undoubtedly a destination point, at least according to U-Haul.

    Tampa is the No. 15 destination for people moving with U-Haul trucks. | Times file photo
  2. Florida's economy growing faster than other big states and far better than U.S. overall

    Business

    When it comes to economic growth, Florida's running alongside the leading states and well ahead of the United States as a whole.

  3. Westshore Marina District project takes shape with another acquisition

    Real Estate

    TAMPA — One of Tampa Bay's prime waterfront areas took another major step toward redevelopment Friday as WCI Communities bought 2.35 acres in Westshore Marina District.

    WCI Communities, Lennar's high-end subsidiary,has paid $2.5 million for 2.35 acres in the Westshore Marina District for 35 townhomes. WCI is under contract  to buy an additional 9.5 acres.
[BTI Partners]
  4. Posh Guy Harvey RV park to open in Tampa Bay with $250,000 cottages

    Business

    HOLIDAY — Love those Guy Harvey T-shirts with the soaring marlins? In the not too distant future, you might be able to kick back in your own Guy Harvey cottage in the first-ever Guy Harvey RV park.

    Renderings of the clubhouse and an RV cottage site of the planned Guy Harvey Outpost Club & Resort Tarpon Springs.
[Guy Harvey Outpost Collection]
  5. Port Tampa Bay secures $9 million grant to deepen Big Bend Channel

    Business

    Port Tampa Bay has secured a $9 million grant from the U.S. Army Corps of Engineers for the widening and deepening of the Big Bend Channel in southern Hillsborough County.