Thursday, August 16, 2018

For Struggling Restaurants, It's Buy or Die

Restaurant Business
Earlier this month, Real Mex Restaurants, the owner of El Torito, Chevys Fresh Mex and Acapulco, filed for its second bankruptcy in less than a decade and has a buyer willing to pay $47 million.

The Real Mex story is a classic story of a zombie restaurant chain: It was shrinking (less than half the size it was before the previous filing), had way too much debt (well over $200 million) and was unable to manage that debt in a period of weakening sales and higher costs. . . . more