Rubio's Coastal Grill is filing for bankruptcy for the second time in four years as it suffers from years of diminishing traffic, rising costs and most recently, minimum wage increases.
Rubio’s Coastal Grill — which just announced plans to shutter nearly 50 locations in California — has filed for bankruptcy protection again. The company filed in bankruptcy court in Delaware on Wednesday, marking the second time Rubio’s Restaurants, Inc. did in four years.
The news comes shortly after the company announced it abruptly closed 48 under-performing locations throughout California, citing the "rising cost of doing business in the state." About 13 of the closures were in the San Diego area: 24 were in the Los Angeles area, and 11 were in northern California. Rubio's said it plans to continue to operate 86 restaurants in California, Arizona and Nevada.
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