Huge restaurant owner buys Mexican chain in foreclosure sale
A popular and distressed Mexican chain finds a lifeline.
Restaurants have taken a hit in recent years with rising food costs hurting their already tight margins, and several big names have succumbed to bankruptcy as a result.
Wholesale food prices were up 7% annually in December 2024, according to the National Restaurant Association. But the days of casual eateries being able to pass rising costs onto customers may be behind us.
