Well, that was sudden. There’s a once-popular Mexican food brand that has suddenly declared bankruptcy. They still have an Illinois location that’s currently open.
I saw this unfortunate food development just shared by Nation’s Restaurant News. They report that court documents filed in Georgia this week show On The Border Mexican Grill and Cantina has declared Chapter 11 bankruptcy. Their locations map shows their current Illinois location is at 1512 S. Randall Road in Algonquin, Illinois.
What will chapter 11 bankruptcy mean for the Illinois location of On The Border Mexican Grill & Cantina?
As United States Courts clarifies, chapter 11 bankruptcy is known as a reorganization of debts process and not a liquidation. Hopefully that will mean that this Illinois location will remin open and operating, but there are no specifics given so far about what this court filing will mean for the Illinois restaurant or any others in the company…