Texas-based fast-food Mexican food chain Taco Bueno filed for bankruptcy protection Tuesday as they look to restructure and turn the company around.
The restaurant announced on its websitethat as part of the restructuring deal, they have entered an agreement with Sun Holdings, a Dallas, Texas-based multi-concept franchisee, which will acquire all of Taco Bueno's "outstanding bank debt" and provide $10 million in extra financing.
“We are pleased to have reached this agreement with Sun Holdings on the terms of a financial restructuring that will strengthen our balance sheet and position our company for continued success. We also look forward to welcoming Sun Holdings as the new owner of Taco Bueno,” said Omar Janjua, Chief Executive Officer, Taco Bueno.
The chain has more than 180 restaurants in Missouri, Kansas, Arkansas, Louisiana, Oklahoma, Colorado, Alabama and Texas.
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