Previously bankrupt Mexican chain turns heads with | World Market Information
The informal restaurant sector confronted a lot of financial misery in 2024 with a number of chains submitting for Chapter 11 chapter and shutting eating places.The debtors blamed related issues for inflicting their misery, together with elevated rates of interest, rising inflation, and prospects’ altering attitudes towards eating.💸💰 Do not miss the transfer: Subscribe to TheStreet’s free every day e-newsletter 💰💸 Fashionable restaurant chain TGI Friday’s Inc. filed for chapter safety on Nov. 2, 2024, searching for to reorganize its business, promote sure company belongings, additional scale back its restaurant footprint, and reject unfavorable leases and contracts.Associated: Fashionable breakfast eating chain information for Chapter 11 bankruptcyTGI Friday’s on Jan. 28, 2025, filed motions to promote 18 of its remaining eating places and close its different 12 remaining places that lacked curiosity from potential consumers. Italian restaurant chain Buca di Beppo on Aug. 4 filed for Chapter 11 chapter safety searching for to reorganize with the assist of its lenders after closing 13 underperforming places within the week earlier than it filed for chapter.The company asserted that the chain’s operations had been impacted by a vital drop in gross sales, rising food and labor prices, continued staffing challenges, and adjustments to prospects’ preferences.The company had 44 remaining places in 14 states after the closings and offered its remaining belongings to its prepetition lender Primary Road Capital Corp. for a $27 million credit bid.Some restaurant chains which have confronted chapter are making a comeback this yr, nonetheless.Fashionable Mexican chain Chi-Chi’s, which closed all of its places 20 years in the past after submitting for Chapter 11 chapter and dealing with a devastating Hepatitis A outbreak, will reopen for business in 2025 after the founder’s son reached an settlement with the trademark holder to make use of the restaurant identify.
Tijuana Flats is increasing after exiting chapter in January 2025.Picture source: Shutterstock
Tijuana Flats opens new restaurantsAnd previously bankrupt Mexican fast-casual restaurant chain Tijuana Flats took a massive step in its comeback because it revealed it is going to open its first Kentucky location on Feb. 24 in Louisville.Associated: Troubled trucking company information for Chapter 11 bankruptcyTijuana Flats franchisee GOE Tacos, which operates eight eating places within the Louisville metro space, signed a multi-unit development settlement with the fast-casual chain that requires it to open more places between Southern Indiana and Elizabethtown, Ky., based on a assertion from the eating chain.Extra chapter:
GOE Tacos additionally operates different restaurant franchises within the Louisville space, together with Wingstop and Freddy’s.“As we continue to bring our bold flavors and vibrant hospitality to new markets, expanding into Kentucky was a natural choice,” Tijuana Flats CEO Jim Greco mentioned in a assertion. “The team at GOE Restaurant Group has an exceptional reputation for delivering outstanding dining experiences in Louisville, and we’re excited to partner with them as we introduce Tijuana Flats to this dynamic community.”Tijuana Flat’s menu contains traditional Mexican dishes, together with tacos, burritos, quesadillas, flautas, and chimichangas, together with numerous bowls and salads.The Mexican chain provides weekly specials, together with Tijuana Tuesdaze with Dos Tacos, chips, and a drink for $6.99 on Tuesdays; Throwback Thursdaze with a burrito or bowl with chips and a drink for $7.99 on Thursdays; and a pair of for $22 Saturdaze with two entrees, two drinks, and a starter for $22 each Saturday.Tijuana Flats exited chapter in JanuaryTijuana Flats on April 19, 2024, filed for Chapter 11 chapter within the U.S. Chapter Court docket for the Center District of Florida, closed 11 of its places and offered the company to a new possession group. It exited chapter in January 2025.New homeowners Flatheads LLC bought the restaurant chain from TJF USA LLC with a plan to revitalize its eating places and reinvigorate the client expertise.The company mentioned that the sale and chapter submitting was a fruits of a strategic review that it started in November 2023 searching for choices to improve its business.The closing of 11 places was needed after a unit-by-unit evaluation of financial efficiency, occupancy prices, and market circumstances. The chain’s remaining eating places proceed to operate as ordinary.Tijuana Flats was based in 1995 in Winter Park, Fla., and presently operates about 100 company-owned and franchised eating places in Alabama, Florida, Kentucky, North Carolina, and Tennessee.Associated: Veteran fund supervisor points dire S&P 500 warning for 2025
Keep up to date with the latest news within the international markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on worldwide trade. We offer every day updates to make sure you have entry to the freshest info on stock market actions, commodity costs, currency fluctuations, and main financial bulletins.
Discover how these trends are shaping the long run of the worldwide economic system! Go to us recurrently for probably the most partaking and informative market content material by clicking right here. Our rigorously curated articles will keep you knowledgeable on market shifts, investment methods, geopolitical impacts, and pivotal moments in international finance.
