An Unexpected Restaurant Is Now Down To Its Last Location

An unexpected restaurant is now down to its last location after first opening just four decades ago in Austin, Texas.

A Tex Mex chain has been left with just one restaurant following a recent closure.

Trudy’s, which first opened over four decades ago, was based in Austin, Texas.

The long-standing chain shut down its South Star location in South Austin, per The-Sun.

This means the restaurant has one last location in North Star.

Trudy’s had faced financial troubles in the past as it had filed for bankruptcy a few years ago, according to the Austin American-Statesman.

The chain was pulled out of bankruptcy when it was bought by a North Carolina-based venture capital firm in 2020 for $6.5 million.

Trudy’s had three locations at the time.

The restaurant’s CEO Scott Taylor, who has been in this role for a month, said this was not all bad news for the company as there could be new plans for the future.

Taylor said Trudy’s was seeking to expand with two new restaurants in Austin and even branch out to Houston and San Antonio.

The CEO explained some of the reasons behind the recent closure, according to ABC affiliate KVUE.

“We have looked at multiple options to keep this location open, but the economics and changes in the immediate shopping area unfortunately do not work,” Taylor said.

“We want to thank all our loyal fans in South Austin for making Trudy’s a part of their lives over the years, and we invite them to visit our North Star restaurant whenever they can.”

The director of operations for Trudys’ North Star branch, Chris Armstrong, also had a positive outlook.

“The future is bright for Trudy’s, as we return to our cherished roots and bring our authentic Tex-Mex to new and old fans alike,” Armstrong said.

Armstrong also shared some exciting menu updates for diners.

“I know our guests will be thrilled that we’re bringing back some of their long-time favorite menu items and specials, and I’m personally excited that our leadership team is ready to take Trudy’s to even more communities across the Lone Star State.”

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

Market News Today - An Unexpected Restaurant Is Now Down To Its Last Location.
Market News Today – An Unexpected Restaurant Is Now Down To Its Last Location.

A massive clothing retailer is now closing all 540 stores in just six weeks after unexpectedly filing for bankruptcy.

Liquidation sales will be held at rue21 outlets across the US as bosses rush to clear the last remaining stock.

The clothing retailer has entered bankruptcy and bosses have announced plans to close all 540 remaining stores within six weeks, reports The US Sun.

It is the third time in less than 25 years the fashion retailer has entered bankruptcy, per Bloomberg.

Court documents seen by Reuters revealed the company has more than $190 million of debt.

The chain has 540 stores across the US and 4,900 workers are set to be impacted.

Outlets are to slam shut within four to six weeks, according to court papers.

Bosses also announced plans to sell the company’s intellectual property.

The company narrowly avoided going into bankruptcy in October 2022.

Chiefs filed for bankruptcy in 2017 as they rushed to clear around $700 million worth of debt.

Bosses shuttered 400 stores as well and renegotiated leases.

Execs identified the rise of online shopping and changing consumer trends as reasons behind the bankruptcy.

Michele Pascoe, the interim CEO, also alluded to the impacts of competition and inflation.

The company also filed for bankruptcy in 2002.

At its peak, the company had more than 1,000 stores across the US.

The chain has dozens of outlets across several states, including Florida, Georgia, Illinois, North Carolina, Pennsylvania and Texas.

The teen fashion retailer is not the only clothing chain that has entered bankruptcy over the past year.

Last month, Express chiefs filed for bankruptcy, and at least 100 stores are set to close.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - An Unexpected Restaurant Is Now Down To Its Last Location.
Market News Today – An Unexpected Restaurant Is Now Down To Its Last Location.

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