Tex-Mex Chain Files for Bankruptcy, Texas Locations Face Closure

It seems like news breaks every week about a popular restaurant chain filing bankruptcy or closing its doors. We have already learned that Reb Lobster, TGI Fridays, Olive Garden, and other popular eateries have either filed for bankruptcy or have closed locations all across the country.

We learned this week that another popular restaurant chain with 60 company-operated restaurants in the United States and internationally has filed for bankruptcy protection adding to the ever-growing list of failing restaurants and businesses across the country. This popular Tex-Mex restaurant chain filed for Chapter 11 Bankruptcy protection after already closing some of its locations before the filing.

The Tex-Mex restaurant that we are speaking about is called On the Border Mexican Grill & Cantina based out of Atlanta, Georgia with its parent company, Argonne Capital Group.

According to the USA Today,

OTB Holdings Chief Restructuring Officer Jonathan Tibus said the bankruptcy had been brought upon by difficult economic conditions, labor shortages, underperforming restaurants, and creditor enforcement actions, according to records viewed by USA TODAY.

In the same filings, Tibus said the company, along with debtors, had decided in late February to close 40 "non-performing" stores.

There are several locations in the state of Texas. On the Border Mexican Grill & Cantina has locations including,

• Plano
• McKinney
• Mansfield
• Houston
• College Station
• Corpus Christi
• Bedford
• Addison
• Allen
• Amarillo
• Arlington
• Garland
• Lake Worth

So, will any of these locations be affected? We will have to see once the company determines which locations it deems "underperforming." Some of these locations could be on the chopping block in your community.