On the Border files for bankruptcy
ATLANTA, Ga. (WANF/Gray News) – On the Border Mexican Grill & Cantina is the latest in a growing number of chain restaurants to file for bankruptcy.
The restaurant chain, which is owned by Atlanta-based investment firm Argonne Capital Group, filed for Chapter 11 bankruptcy Tuesday in federal court in downtown Atlanta.
The chain currently operates 60 restaurants across the country, according to the court documents.
According to court filings obtained by Atlanta News First, On the Border wants to end leases in more than 70 locations where restaurants have already been shuttered.
On the Border’s Chapter 11 filing follows other casual restaurant chains that filed for bankruptcy protection over the last year, including Red Lobster and TGI Fridays.
According to court documents acquired by The Associated Press, On the Border said customers dined out less in recent years as inflation at restaurants outpaced grocery prices.
The chain also said rising minimum wages in many states added to its costs, and it’s struggled to recruit and retain employees.
Argonne also operates IHOP, Applebee’s, Krystal and Stevi B’s Pizza franchises.
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