At one time, Abuelo\u2019s had nearly 40 locations in 13 states. Immediately prior to filing, the Mexican casual dining chain had 16 restaurants in seven states, according to court records.<\/p>\n
Currently, it\u2019s 13 locations with three locations shutting down during the bankruptcy. The most recent records do not indicate which locations are profitable and which, if any, are losing money.<\/p>\n
Abuelo\u2019s asked for and later received more time to file a Chapter 11 reorganization plan in early December.<\/p>\n
The restaurant chain had to show more time was needed to negotiate, \u201cgood faith progress\u201d or hope for filing a viable plan.<\/p>\n
Abuelo\u2019s claimed there are more than 500 unsecured creditors \u2013 making the case for more time. They\u2019re not spelled out in the request but they typically can be food suppliers, landlords with past due rent from before the bankruptcy, or other professional service providers.<\/p>\n
Some of the work includes negotiating new leases with landlords. Abuelo\u2019s made the case it\u2019s now on the right track by making enough money to pay its ongoing expenses during bankruptcy.<\/p>\n
Why ask for a delay?<\/p>\n
\u201c\u2026 It is possible the negotiation process with not only landlords, but also other creditor constituencies, will extend beyond December 31, 2025, which is the 120th day of the instant chapter 11 bankruptcy proceedings. In an abundance of caution, the Debtors file this Motion to extend exclusivity thereby preserving their right to file and solicit confirmation of a chapter 11 plan free of competing chapter 11 plans.\u201d<\/p>\n
Source: Abuelo\u2019s request in bankruptcy records.<\/p>\n
Judge Edward Morris granted the request for more time on December 30, the day before the reorganization plan was due \u2013 allowing the company until March 1. Between now and then, Abuelo\u2019s is the only one with the right to file a plan. Creditors can negotiate or raise objections but are not allowed to file alternative plans before then.<\/p>\n
Abuelo\u2019s then has until April 30 to persuade creditors to vote in favor of its plan.<\/p>\n
Abuelo\u2019s Monthly Operating Report: November 2025<\/p>\n
Revenue<\/p>\n
Costs<\/p>\n
Cost of food and beverages: $745,169<\/p>\n
General and administrative expenses: $2,388,194<\/p>\n
Taxes: $343,453<\/p>\n
Net operating profit<\/p>\n
There has not been an update yet on the total assets and debts since the case first started. At that time, Abuelo\u2019s and its related companies \u2013 Food Concepts International and FCI Holding \u2013 had a combined $31.25 million of total assets and $30.65 million of total liabilities.<\/p>\n
Two company shareholders, Randall Andrews and David Sharbutt, loaned Abuelo\u2019s $1 million during the bankruptcy process.<\/p>\n
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