“We worked hard to adapt the concept, but after months of trying, it was no longer sustainable,” the Red Mesa team wrote in a Facebook post Wednesday morning.
“While economic challenges certainly played a role, we recognize that those challenges and our own economic risks are part of being business owners. We gave it everything we had, but unfortunately, it wasn’t enough,” the post continued.
The team said many Mercado employees are in the process of transferring to other Red Mesa restaurants where positions are available.
The announcement comes two months after Red Mesa Cantina permanently closed after 16 years at 128 3rd Street South in downtown St. Pete.
Veytia Ventures LLC, the company that owns and operates the Red Mesa concepts, recently filed for Chapter 11 bankruptcy, which is a process that allows a business to reorganize its finances and debts.
Red Mesa Mercado’s west St. Pete location will remain open daily from 11:30 a.m. to 10 p.m. through August 16th.