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October 6, 2011

Chevys, El Torito owner files for bankruptcy

"The owner of Mexican restaurant chains Chevys Fresh Mex, El Torito and Acapulco filed for bankruptcy Tuesday, pressured by years of slipping sales and the country’s economic malaise, executives said.

Cypress-based RM Restaurant Holding Corp. said its revenue has fallen to $478 million last year from $553 in 2008. The company’s 178 restaurants are seeing fewer diners, according to the filing in U.S. Bankruptcy Court in Delaware."

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October 6, 2011 in Current Affairs | Permalink

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