Tijuana Residences has been obtained by way of a brand new possession staff, closed 11 eating places this week and filed for Bankruptcy 11 chapter coverage, the corporate mentioned Friday.
The Maitland, Fla.-based fast-casual idea mentioned TJF USA LLC had bought to Flatheads LLC. Phrases of the deal weren’t disclosed.
Comparable: Tijuana Residences pronounces expanded hours “Our corporation is eager about the brand new possession staff’s plan to reinvest, center of attention, and emphasize the issues that initially introduced such a lot of other folks to like Tijuana Residences,” mentioned Joe Christina, Tijuana Residences CEO, in a commentary. “We perceive the instant monetary movements taken by way of them to make sure the long-term well being of this nice and iconic logo.”
Together with the possession announcement, Tijuana Residences mentioned Friday that it has filed for Bankruptcy 11 chapter coverage and had closed 11 eating places this week.
The corporate had reportedly closed 4 eating places within the Jacksonville, Fla., marketplace in February.
Tijuana Residences executives mentioned the sale and next chapter submitting are the fruits of a strategic assessment that began in November 2023, when the corporate started exploring more than a few choices that integrated a possible sale.
The eating place closures had been “a results of a unit-by-unit research of economic efficiency, occupancy prices, and marketplace prerequisites,” the corporate mentioned.
Flatheads LLC mentioned in a commentary that it identified the place Tijuana Residences stood and felt instant motion was once had to keep the group.
Christina, who joined the logo in November 2022, will stay as CEO of the corporate.
“Since becoming a member of the logo, I’ve been dedicated to main with a imaginative and prescient to serve each visitor essentially the most flavorful Tex-Mex meals and give you the highest visitor enjoy within the nation,” Christina mentioned.
Christina had overseen a brand new Tijuana Residences menu, efficient April 1, and new packaging for take-out and supply.
Flatheads has mentioned it aimed to resume the logo’s center of attention on quality control, pace of provider, consistency of meals, serving dimension, and development of the in-store enjoy. It mentioned it plans to make renovations at many places.
Tijuana Residences is a fast-casual Tex-Mex eating place based in 1995 in Iciness Park, Fla.. It has 65 company-owned places right through Florida, in conjunction with 26 franchised eating places situated in Alabama, Florida, North Carolina, and Tennessee.
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