On The Border Mexican Grill & Cantina Risk Report | Riskify
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www.riskify.netHere’s the latest I could verify about On The Border Mexican Grill & Cantina.
- Bankruptcy and acquisition: The chain filed for Chapter 11 bankruptcy in March 2025, citing financial pressures, and was subsequently acquired by Pappas Restaurants, with the acquisition confirmed in May 2025. This marks a significant restructuring of the brand after the filing.[2][3][4]
- Location closures: Reports noted closures of non-performing stores and, in some markets, abrupt shutdowns of multiple Valley (Arizona) locations in early 2025, indicating ongoing consolidation during the restructuring.[5]
- Current status: By mid-2025, the brand appeared to be under new ownership with a path toward stabilization, following the auction and confirmed acquisition by Pappas Restaurants.[4][2]
- General context: Coverage from Bloomberg and USA TODAY highlighted the bankruptcy amid rising labor costs, inflation, and weaker traffic in the casual-dining segment.[3][4]
If you’d like, I can compile a short timeline with dates and sources, or look up recent press releases from On The Border or Pappas Restaurants for the latest official statements.
Cited sources:
- On The Border bankruptcy and acquisition coverage[3][4]
- Acquisition details and brand stabilization notes[2]
- Arizona location closures report[5]