The San Diego-born chain is seeking Chapter 11 protection as a precursor to selling the business but current outlets will remain open, says Rubio's
Rubio's Coastal Grill, which began in San Diego more than 40 years ago and once boasted close to 200 restaurants, announced Wednesday it is filing for bankruptcy protection with the goal of selling the business. In a news release issued by the company's public relations firm, the company said the existing 86 Rubio's locations will remain operating while the Chapter 11 bankruptcy process proceeds.
As it did several days ago, Rubio's blamed its declining performance on what it said is the difficulty in doing business in California where a recent wage hike to $20 an hour recently went into effect for all fast food workers. A number of fast food chains have already raised prices in response to the wage increase while others are taking a wait-and-see approach.
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