Real Mex Restaurants, Inc and all of its subsidiaries have announced that it will be filing for bankruptcy. The corporation has announced that, under Chapter 11, they will go through a restructuring and reorganization of their properties.
Upon court approval, Real Mex will be receiving a commitment from General Electric Capital Corporation in the form of $49 million in debtor in possession (DIP).
The restaurants under Real Mex (El Torito, Chevys, Acapulco…) will not be affected by the restructuring. The process will be expected to finish within the first quarter of 2012.
(via: Restaurant News)