Rubio’s Bankruptcy – NBC7 San Diego

Rubbios restaurants, a fast-paced casual Mexican-food chain based in Karlspot, filed for bankruptcy Monday in Delaware.

Rubio confirmed the filing In a statement released Monday:

“Rubio’s Restaurants … announced today that it has reached a comprehensive financial restructuring agreement with its financier, Mill Road Capital and its lenders, funds managed by Colp Capital, to recapitalize the company. , Voluntarily petitioned for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. “

With more than 3,500 workers in California, Arizona and Nevada, the chain has more than 150 locations. It operates nearly half a dozen restaurants in its hometown of Carlsport and dozens of restaurants around San Diego County.

Rubio’s spokeswoman Anita-Marie Larry said Monday that the company wants to emphasize to restaurants that “our restaurants are normally open.”

The company said in a statement Monday that more than two dozen locations – most of them in Florida and Colorado – will be permanently closed when they become infected. The “small number” of other places that were still closed due to infection may reopen as restrictions are relaxed.

The company’s founder, Ralph Rubio, had a positive tone in the quote he was told in a statement on Monday.

“COVID-19, like most businesses, has had a significant impact on the Rubio, and we are proud of how we have responded to the challenge. Our investments in key digital technologies in 2019, including online ordering, a mobile application, a new loyalty program and the distribution of Rubio, are subject to different state and district regulations. This restructuring plan creates long-term financial stability that will continue to serve our communities for many years to come. “

The company’s bio says that the first Rubios opened its doors at Mission Bay in 1983.