Popular Mexican chain closes all restaurants, no bankruptcy yet
The Mexican restaurant chain closed all its locations after government officials seized company assets.
Financial distress of Mexican restaurant chains has spilled over from 2024 into 2025, which has resulted in several dining businesses filing for Chapter 11 bankruptcy protection, closing locations, and some going out of business.
The most prominent Mexican chain to face economic hardship so far this year is Atlanta-based On The Border Mexican Grill & Cantina, which on March 4 filed for Chapter 11 protection, seeking to sell its assets to a prepetition lender.
