Rubio’s files for bankruptcy, but will keep California restaurants open
The Carlsbad based Coastal Grill from Rubio The casual Mexican restaurant chain filed for bankruptcy on Monday, citing declining sales due to the coronavirus pandemic.
The company said its nearly 170 restaurants in California, Arizona and Nevada will continue to operate during the restructuring. Earlier this year, Rubio’s closed all of its locations in Colorado and Florida.
âRubio’s started the year in a strong financial position, which has helped the company remain flexible to deal with the unprecedented impact of the pandemic,â said Marc Simon, President and CEO. âThe agreement with our sponsor and our lenders will allow the company to thrive in this ever-changing market. “
âThis plan will strengthen our finances and allow us to continue to serve our loyal customers and move our business forward,â added Simon.
Rubio’s, which opened its first restaurant in Mission Bay in 1983, has nearly 50 locations in the San Diego area.
The chain joins a growing list of restaurant operators that have declared bankruptcy during the pandemic, including Sizzler USA and California Pizza Kitchen.