Restaurant Chain Faces Uncertain Future as Parent Company Files for Bankruptcy

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One Table Restaurant Brands, the company behind popular spots like Tender Greens and Tocaya, has filed for Chapter 11 bankruptcy. This decision impacts 24 Tender Greens locations across California and 15 Tocaya restaurants in California and Arizona, affecting over 1,100 employees, including those at their Los Angeles headquarters.

Harald Herrmann, CEO of One Table, addressed the situation, saying, ‘We explored every option to avoid bankruptcy, but restructuring our debt is the best way forward for our team, our vendors, and our valued guests.’ He remains hopeful that this bankruptcy will help the company come back stronger and more competitive in a challenging market.

Since 2022, One Table has been searching for a buyer, attracting interest from 22 potential suitors. Unfortunately, no deals materialized, largely due to the company’s significant debt and some issues with the Tocaya chain. This move is part of a larger trend in the restaurant industry, which has seen several high-profile closures, including Red Lobster and Tijuana Flats. Rubio’s Coastal Grill recently pointed to soaring labor costs in California as another example of the industry’s struggles.

As One Table begins its restructuring process, the future of Tender Greens and Tocaya is up in the air. The company's leadership is betting on this financial overhaul to stabilize and move forward. With the restaurant industry navigating its own set of challenges, it’ll be interesting to see how One Table emerges from this tough period.