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Food ostentation remains strong
Inflation is falling but buying nutrient tin still beryllium expensive. Grocery prices surged 21% successful nan past 3 years, surpassing nan wide 18% gait of ostentation during that aforesaid clip period, according to nan Bureau of Labor Statistics.
A Central Florida Tex-Mex edifice concatenation that has locations successful 4 southeastern states has revenge for Chapter 11 bankruptcy aft closing 11 locations.
Tijuana Flats, whose first location was opened successful Winter Park, Florida, by laminitis Brian Wheeler successful 1995, made nan announcement of caller ownership "with a scheme of revitalizing its restaurants and reinvigorating nan customer experience."
The company's caller ownership group is Flatheads, LLC. It was antecedently owned by TJF USA, LLC.
"Our institution is excited by nan caller ownership group’s scheme to reinvest, focus, and stress nan things that primitively brought truthful galore group to emotion Tijuana Flats," CEO Joe Christina, who joined nan marque successful November 2022, said successful nan release. "We understand nan contiguous financial actions taken by them to guarantee nan semipermanent wellness of this awesome and iconic brand."
RED LOBSTER CONSIDERING BANKRUPTCY FILING: REPORT
A waitress serving nutrient astatine Tex-Mex nutrient successful Tijuana Flats. (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)
Financial restructuring plans started successful November 2023, erstwhile nan institution considered options that included a imaginable sale. The locations wished for closure were "a consequence of a unit-by-unit study of financial performance, occupancy costs, and marketplace conditions."
Tijuana Flats locations tin beryllium recovered successful Florida, North Carolina, Alabama and Tennessee. It is known for its fast-casual style, offering specials connected Tuesdays, Thursdays and Saturdays. Franchises besides connection a statement of basking sauces for their burritos, tacos, quesadillas, burrito bowls and more.
APPLEBEE'S, IHOP PARENT WEIGHING JOINT RESTAURANTS FOR US MARKET
A Mexican style pizza from Tex-Mex nutrient successful Tijuana Flats. (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)
Tijuana Flats location successful Winter Park, Florida. (Google Maps / Google Maps)
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The institution did not opportunity which 11 restaurants closed, but it will proceed to supply support to franchisees and nan remaining locations will proceed to run arsenic usual. There are 65 company-owned locations passim Florida, and 26 franchised restaurants successful each 4 states Tijuana Flats operates.
On April 1, Tijuana Flats rolled retired a caller paper pinch caller packaging for take-out and transportation orders. Court documents obtained by Restuarant Business magazine opportunity paper changes successful 2021 successful hopes of boosting income had an "opposite effect," and nan institution blames rising nutrient and labour costs.
