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The owner of On The Border Mexican Grill & Cantina filed for Chapter 11 bankruptcy on March 5. The bankruptcy filing follows the closing of multiple locations of the restaurant across the country over the past few months, including in Arizona, Colorado, Massachusetts, Oklahoma and Rhode Island.
The chain had 134 locations in early 2024, according to el Restaurante data, but now apparently only has 80.
The press release describing the bankruptcy filing says that the remaining locations will remain open during the bankruptcy process. Furthermore, the company plans to sell its assets to Pappas Restaurants, Inc., which is providing a $10 million loan to help the company during its bankruptcy.
“This restructuring is the best path forward for On The Border,” said Chris Rockwood, president of OTB Holding LLC, the owner of On The Border, in the press release. “It allows us to address several financial and operational challenges and emerge stronger and refocused on our growth. The support we’ve received from our vendors and lenders will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.”
Click here to read el Restaurante’s 2025 Multi-Unit Mexican Restaurant Report.
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