IRVING, Texas — Texas-based Pappas Restaurants is officially the leading bidder to buy Irving-based On The Border Mexican Grill & Cantina, the company announced.
On The Border filed for bankruptcy in March, citing inflation and changing customer behavior, as the Associated Press reported.
Houston-based Pappas Restaurants, the parent company behind nine restaurant brands, including Pappas Bros. Steakhouse, Pappasito’s Cantina, Pappadeaux Seafood Kitchen, Pappas Bar-B-Q, and more, announced this week that it was selected as the leading bidder at auction to acquire On The Border. The transaction, which is subject to court approval, is expected to be finalized and close in the coming week, according to a press release…