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11 Restaurants That Filed for Bankruptcy Amid COVID-19


11 Restaurants That Filed for Bankruptcy Amid COVID-19
The coronavirus pandemic has rocked the fortunes of some of America s most beloved restaurant chains.
Kmpzzz / Shutterstock.com
When the coronavirus pandemic finally ends, you might want to celebrate with a meal at your favorite restaurant. But will the eatery still be in business when that day arrives?
Since the beginning of the pandemic, more than 110,000 restaurants across the U.S. have closed their doors permanently or long-term, according to the National Restaurant Association. That represents 17% of all restaurants, putting the industry into “an economic free fall,” the association says.
The damage has impacted mom-and-pop restaurants and big chains alike. Following are some of the biggest and best-known restaurants that have filed for bankruptcy protection amid COVID-19. ....

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Rubio's Mexican Food Chain Enters Plant-Based Segment | San Diego Business Journal

Rubio's Mexican Food Chain Enters Plant-Based Segment | San Diego Business Journal
sdbj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sdbj.com Daily Mail and Mail on Sunday newspapers.

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Rubio's Coastal Grill Receives Court Approval of Joint Prepackaged Plan of Reorganization


Rubio’s Coastal Grill Receives Court Approval of Joint Prepackaged Plan of Reorganization
December 22, 2020
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Rubio’s Restaurants, Inc., a fast casual restaurant chain specializing in coastal Mexican food, best known for its award-winning Original Fish Taco, announced that the U.S. Bankruptcy Court for the District of Delaware has confirmed its Second Amended Joint Plan of Reorganization.
This important milestone means that Rubio’s will emerge from the Chapter 11 process with a strengthened capital structure, improved financial stability and enhanced liquidity to support continued operation of its restaurants. The company is scheduled to complete its financial restructuring by the end of the year, as expected. ....

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Court confirms Rubio's prepackaged bankruptcy plan | Nation's Restaurant News


Fast-casual chain expects Chapter 11 exit by year-end, reducing debt by $35 million
Rubio’s Restaurants Inc. said its prepackaged reorganization plan has been confirmed by the bankruptcy court, and it expects to emerge from Chapter 11 proceedings by year’s end, the company said Tuesday.
The Carlsbad, Calif.-based owner of the fast-casual Rubio’s Coastal Grill said the U.S. Bankruptcy Court for the District of Delaware confirmed its second amended plan of reorganization, which was originally filed in October.
The company said the reorganization would reduce its debt by $35 million and secure long-time financing for the brand.
Going into the process, the limited-service Mexican brand had reached agreement on a comprehensive financial restructuring with its sponsor, Mill Road Capital L.P., and its lenders, funds managed by Golub Capital, to recapitalize the company. ....

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