Ay yi yi!
Can you believe it?!
Your favorite Mexican restaurant chains like El Torito and Chevys may be out of business!
Real Mex(RM Holdco LLC) is voultnarily filing for Chapter 11 Bankruptcy.
Following, they're entering an Asset Purchase Agreement with an affiliate of Z Capital Group, LLC where they are planning to sell over its assets.
Many of the restaurants Real Mex own, plan to stay open until everything gets sorted out so guests won't really notice a change, yet.
Some may have already noticed a change with restaurants closing here and there unexpectedly. It's possibly the result that's leading them to filing Chapter 11.
Real Mex restaurants include a variety of chains, such as, Acapulco Mexican Restaurant and Cantina, El Paso Cantina, Who Song and Larry's and Las Brisas along with Chevy's and El Torrito.
Under Chapter 11 of the U.S Bankruptcy Code, it allows them to pass on some of their liabilities onto Z Capital Group.
Which Mexican restaurant would you be sad to see close for good?