FARMERS BRANCH (CBSDFW.COM) – Taco Bueno filed for Chapter 11 bankruptcy protection Tuesday as part of a restructuring deal aimed at helping turn around the financially struggling fast food chain.
In a press release, the Farmers Branch-based company announced it had entered an agreement with Taco Supremo, LLC, an affiliate of Dallas-based Sun Holdings.
Taco Bueno hopes the move will “enable the company to better compete in the Tex-Mex quick service restaurant sector.”
Sun Holdings, also based in Dallas, has more than 800 franchise locations in eight states and includes restaurants such as Golden Corral, Burger King, Krispy Kreme and Popeyes.
There were no immediate plans to close stores, the company said.
As part of the announced deal, Taco Supremo acquired all of Taco Bueno’s outstanding bank debt and agreed to provide up to $10 million in extra financing.
Original published: 2018-11-07 01:37:41 Read the full Dallas News here
Some local news is curated - Original might have been posted at a different date/ time! Click the source link for details.