The Mexican restaurant sector has encountered challenging economic conditions over the last two years which have resulted in dining chains, like Salt and Lime Modern Mexican Grill in Arizona, filing for bankruptcy protection.
In the case of Moe’s Southwest Grill
Quality Fresca I LLC, which operated 38 Mexican restaurant locations in Florida, South Carolina, Virginia, and Washington, D.C., the company filed for Chapter 11 bankruptcy, seeking to close 16 locations, facing industry headwinds, increased costs, and declining revenue, which depleted its liquidity, according to court documents…