This Widely-Known Mexican Restaurant Has Filed For Bankruptcy

Eat This, Not That!

This Widely-Known Mexican Restaurant Has Filed For Bankruptcy

Eat This, Not That! 15/04/2021 20:56:12 Mura Dominko

Casa Bonita, an iconic Mexican restaurant in Colorado with a legacy that spans almost half a century, has filed for bankruptcy after being shut down since the beginning of the pandemic.

The Denver establishment was best-known for its interior design, which consisted of artificial cliffs and a 30-foot waterfall that were often used for cliff-diving shows. Alongside food, it also offered various forms of live entertainment, including Mariachi performances and magic shows, and had an arcade. (In fact, even an episode of Comedy Central's South Park featured the widely-known restaurant as the setting of Kyle's birthday party.)

But, all the popularity couldn't help save Casa Bonita from the effects of the COVID-19 pandemic, which left it hundreds of thousands of dollars in debt. Parent company Summit Family Restaurants listed the liabilities at $4.4 million, and assets of just under $3.7 million, while the company cited zero income and expenses of $85,139 for its most recent eight-week period through March 22, according to Nation's Restaurant News.

While the restaurant hoped to reopen in May (a plan they announced on their Facebook page in March), the parent company said the reason for the bankruptcy filing was that "the landlord reached a point where they could not be accommodating anymore."

The restaurant had a capacity of 1,000 customers and was beloved by the local community. So much so, in fact, that a GoFundMe page has been established to try and help the business out of its financial troubles, which has so far raised close to $40,000. Unfortunately, Summit said it was not interested in additional investors at this time. Whether this is the end of the road for Casa Bonita is yet to be seen.

For more restaurant news, check out The Saddest Restaurant Closures in Your State, and don't forget to sign up for our newsletter to get the latest restaurant news delivered straight to your inbox.

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jeudi 15 avril 2021 23:56:12 Categories: Eat This, Not That!

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