Why did Chevys go out of business?

Asked By: Noah Benetti | Last Updated: 5th April, 2020
Category: automotive auto safety technologies
4.4/5 (1,513 Views . 26 Votes)
Restaurant operator RM Holdco LLC, operator of the Chevys Fresh Mex, El Torito and Acapulco Mexican Restaurant casual dining chains, filed for bankruptcy protection on Sunday and said it plans to sell itself in the face of debt, rising costs and competition from “fast-casual” restaurants.

Click to see full answer

Subsequently, one may also ask, did Chevys go out of business?

Chevys, Acapulco Restaurant y Cantina, and El Torito's parent company filed for chapter 11 on Tuesday. Though the company is in the midst of filing for bankruptcy, the company says the aforementioned restaurants will remain open during the company's acquisition.

Secondly, what happened to Chevys Mexican Restaurant? U.S. Chevys Fresh Mex is an American chain of Mexican-style casual dining restaurants located in the United States. The chain was owned by Real Mex Restaurants, Inc. until its August 7, 2018 bankruptcy and acquisition by Z Capital and Tennenbaum Capital Partners.

In this regard, why did Chevys close down?

Chevys Fresh Mex in Rocklin has shut its doors. A sign at the Mexican restaurant at 6604 Lonetree Blvd. Earlier this month, The Mercury News reported that Cypress-based Real Mex, the parent company of Chevys, filed for Chapter 11 bankruptcy. Real Mex said its restaurants would continue to operate as usual.

Is Chevys a franchise?

About Chevys Fresh Mex Headquartered in Union City, Calif., Chevys Fresh Mex is owned by Real Mex Restaurants and operates 42 corporate and 18 franchised restaurants from coast to coast.

12 Related Question Answers Found

Why is El Torito closing?

Fresno once had an Acapulco restaurant on Blackstone Avenue but it closed years ago. El Torito's parent company filed for Chapter 11 bankruptcy in August. It blamed financial losses, and a failed effort to buy another company, among other reasons.

Are El Torito restaurants closing?

At the end of 2015, Real Mex operated about 109 Chevys, Acapulco and El Torito restaurants. At the time of the August bankruptcy, the company had downsized to 78 restaurants. After years of closures, Sharpe said he has no plans to shutter more restaurants. In fact, the company is looking to grow.

What happened to Torito?

El Torito owner files for its 2nd bankruptcy. Real Mex Restaurants, the owner of El Torito and Chevys Fresh Mex, filed for bankruptcy protection Monday after reaching an agreement over the weekend to sell itself to Z Capital Group for $47 million.

What happened to El Torito restaurants?

In 2000, Acapulco bought El Torito from Prandium. Acapulco renamed its parent company to Real Mex Restaurants in 2004 and moved the headquarters to Cypress, California. No plans have been announced to close restaurants or layoff staff. It was acquired by a group of its noteholders in a bankruptcy auction in 2012.

Who owns El Torito?

The company is now owned by an investment group that includes Z Capital Partners. Real Mex Restaurants portfolio includes: El Torito, Acapulco Mexican Restaurant and Cantina, Chevy's Fresh Mex, El Torito Grill, El Paso Cantina, Who Song and Larry's and the Southern California landmark Las Brisas of Laguna Beach.

Do kids eat free at Chevys?

Chevys Fresh Mex. TWO KIDS EAT FREE this Saturday & Sunday evening with the purchase of a regular priced adult meal - at participating locations. For a limited time for kids 12 and under, Enjoy Two FREE Kids Meals with purchase of One adult entrée at regular price.

Is Chuy's and Chevys the same?

Chevy's is very similar to Chuy's but the latter far outweighs the former.

Does Chevys have a kids menu?

Chevys has created several kids menu items that align with Kids LiveWell guidelines, including: Chicken Fajita with carrots, celery sticks and apple wedges (water for beverage) Soft Chicken Taco (with 1 tablespoon cheese), sweet corn tamalito, grilled veggies (pineapple juice for beverage)