Another San Antonio restaurant has filed for bankruptcy, but the business in question is assuring its customers that this is not the end of the road. Luna Rosa Puerto Rican Grill y Tapas acknowledged the filing in vague terms in a recent message to its patrons.
On August 11, Luna Rosa filed for Chapter 11 bankruptcy, a strategy that allows entities to restructure debt while continuing to operate. MySA obtained the initial documents, which reported $50,000 or less in assets and liabilities between $100,000 and $500,000. The bankruptcy petition also listed more than $390,000 in unsecured debt owed to seven lenders, though Luna Rosa disputes a number of those claims.
Luna Rosa finally addressed its current financial situation on Thursday, August 14, sharing a social media update stating that the restaurant will continue operating through bankruptcy proceedings.
“We want to take a moment to address recent rumors and share an important update from our family to yours. Luna Rosa Puerto Rican Grill y Tapas is OPEN and here to stay,” the post said. “It is not a closing. It is a strategic move forward.”…