Taco Bueno Restructures, Keeps Locations Opens

Taco Bueno, the chain known for its loyal fans called "Buenoheads," has filed for Chapter 11 bankruptcy. The company filed a "prepackaged" reorganization plan, and says it will continue operating normally as the plan gets worked out.

     Part of the deal is that Sun Holdings, a large franchisee in Dallas, will become a part owner of the company. Sun Holdings acquired all of Taco Bueno's outstanding bank debt and has provided a commitment for up to $10 million in financing.

      “We are pleased to have reached this agreement with Sun Holdings on the terms of a financial restructuring that will strengthen our balance sheet and position our company for continued success. We also look forward to welcoming Sun Holdings as the new owner of Taco Bueno,” said Omar Janjua, CEO of Taco Bueno. "During this court-supervised process, we will continue to focus on initiatives to grow the Taco Bueno brand, while remaining true to our roots, delivering grea-tasting meals to our customers in an inviting and comfortable environment."

     Additional information is available on Taco Bueno’s restructuring website at restructuring.tacobueno.com .