Inflation is falling, but food is still expensive to buy. According to the Bureau of Labor Statistics, food prices have risen 21% over the past three years, outpacing the overall inflation rate of 18% over the same period.
A Central Florida Tex-Mex restaurant chain with locations in four Southeastern states has filed for Chapter 11 bankruptcy protection after closing 11 locations.
Tijuana Flats, whose first location was opened in Winter Park, Florida by founder Brian Wheeler in 1995, is under new ownership with a “plan to reinvigorate the restaurant and reinvigorate the customer experience.” Announced.
The company’s new ownership group is Flatheads, LLC. Previously he was owned by TJF USA, LLC.
“We are reinvesting in what made so many people love Tijuana Flats in the first place,” CEO Joe Christina, who joined the brand in November 2022, said in a release. “We are excited about the new ownership group’s plans for focus and emphasis.” “We understand that they have taken immediate financial steps to ensure the long-term health of this great and iconic brand.”
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A waitress serves food at a Tex-Mex restaurant in Tijuana Flats. (Jeffrey Greenberg/Universal Images Group via Getty Images/Getty Images)
The financial restructuring plan began in November 2023, with the company considering options including a possible sale. The locations scheduled for closure were determined “as a result of a unit-by-unit analysis of financial performance, occupancy costs, and market conditions.”
Tijuana Flats has locations in Florida, North Carolina, Alabama and Tennessee. Known for its fast-casual style, it offers specials on Tuesdays, Thursdays, and Saturdays. The restaurant also carries hot sauces for use on burritos, tacos, quesadillas, burrito bowls and more.
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Mexican pizza from Tijuana Flats’ Tex-Mex cuisine. (Jeffrey Greenberg/Universal Images Group via Getty Images/Getty Images)
Tijuana Flats is located in Winter Park, Florida. (Google Maps/Google Maps)
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The company did not say which 11 stores had closed, but said it would continue to support its franchisees and the remaining stores would continue to operate as usual. Tijuana Flats has 65 company-owned stores throughout Florida and operates his 26 franchised restaurants in all four states.
On April 1, Tijuana Flats rolled out a new menu with new packaging for takeout and delivery orders.Court documents obtained by restaurant business magazine The company said its 2021 menu changes, which were expected to increase sales, were “counterproductive” and blamed higher food and labor costs.
