MAITLAND, Fla. — Florida-based Tex-Mex restaurant chain Tijuana Flats has filed for Chapter 11 bankruptcy after announcing it is under new ownership, according to a business release.
In the release, posted by Business Wire, the brand is now owned by Flatheads, LLC after being under the leadership of TJF USA, LLC.
The company cited brand recognition, strong following, customer loyalty and future potential as reasons to invest in the restaurant.
“Our company is excited by the new ownership group’s plan to reinvest, focus and emphasize the things that originally brought so many people to love Tijuana Flats," Joe Christina, Chief Executive Officer of Tijuana Flats, said in a statement. "We understand the immediate financial actions taken by them to ensure the long-term health of this great and iconic brand.”
During Friday's announcement, Tijuana Flats also announced its bankruptcy and has closed 11 restaurants.
"Its executives said the sale and subsequent filing are the culmination of a strategic review that started in November of 2023 when the company began exploring various options which had included a potential sale," the business release stated.
The release did not specify which spots were shutting down. Currently, the chain has 16 stores in the Tampa Bay area among its 65 company-owned locations in Florida, along with 26 franchised restaurants in Florida, Alabama, North Carolina and Tennessee.
Flatheads, LLC reportedly based which locations they would shut down based on a unit-by-unit analysis of financial performance, occupancy costs and market conditions.
Christina, who joined Tijuana Flats in November 2022, will remain as CEO under the new leadership.
"Since joining the brand, I have been committed to leading with a vision to serve every guest the most flavorful Tex-Mex food and provide the best guest experience in the country,” Christina said.
The new ownership group said it was encouraged by Christina's changes that he's made to the restaurant chain since his arrival and is looking forward to working with him.
Flatheads says going forward it is looking to focus on quality control, speed of service, consistency of food, serving size and improving the in-store experience. It also plans to make renovations to its remaining locations with a refreshed look.
Tijuana Flats was founded in 1995 in Winter Park, Florida.