The chain filed in April after it was sold to Flatheads LLC. Two months later, it hired James Greco as CEO
Florida-based Tijuana Flats has exited Chapter 11 bankruptcy proceedings. The company filed for bankruptcy in April after it was sold to Flatheads LLC from TJF USA LLC. That same week, the chain also closed 11 restaurants, bringing its total count to just over 90 locations across five states.
In June, Tijuana Flats named James Greco as its chief executive officer to lead the brand through its restructuring and turnaround. In an announcement last week, the company said it has also reduced its debt, improved profitability, and created more efficiencies. Additionally as part of its turnaround plan, Tijuana Flats said it is focused on menu innovation, store refreshes, new marketing promotions, and an emphasis on value through its Flatheads loyalty program. The company said its future plans include expanding into new markets.
"Emerging from Chapter 11 is pivotal for our business," Greco said in a statement. "This process positions us to focus on what truly matters—delivering exceptional hospitality, value and flavors to our guests. As a fast-casual Mexican restaurant brand known for its fun, festive atmosphere, we are dedicated to preserving our unique identity while continuing to innovate and meet the evolving needs of our guests and communities."
Tijuana Flats was founded in Winter Park, Fla., in 1995. The chain finished 2023 with $134 million in sales – a 6.6% decline year-over-year, according to Technomic Ignite data. Its footprint also declined by 5.1%. The company’s sales are down more than 20% versus five years ago, while its unit count has declined by more than 18%. Average unit volumes have also declined from $1.24 million in 2018 to $1.175 million in 2023.
Contact Alicia Kelso at [email protected]
