Popular Mexican restaurant chain closes 24 restaurants, files for bankruptcy

A Popular Mexico Restaurant Once upon a time with a promising future 40 stores throughout the USA., applied bankruptcy And just fell to 16 places.

Abuelo’s36 years old restaurant chainFood Concepts International, owned by the North Region of Texas, applied bankruptcy at the beginning of this month.

The chain applied for the court listed the assets and obligations of $ 10 million to 50 million.

Similarly, Food Concepts International, the mother company of Abuelo, applied for bankruptcy in early September and asked for the merger of the cases.

“This decision is part of a strategic restructuring process to strengthen our long -term financial position,” Abuelo said. Obtained by the restaurant job.

“We will continue normal operations and we will remain determined to maintain stability for our employees, sellers and customers. Until this time, our loyal customers can join us and wait for the quality and hospitality we always provide.”

Accordingly FSR MAGAZINEThe chain has been fighting for several years.

The company attributed the file to a decrease in sales, increasing food and labor costs and a change in consumer interests.

FSR, these challenges began to emerge in 2023, the traffic falls 5.9% that year and continues to 2024. Outlet reported that Abuelo is fighting a decline in sales by closing low -performance stores and cutting fire costs.

Abuelo’s, Arizona, Arkansas, Florida, Kansas, Oklahoma, South Carolina and Texas operates stores.

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