Rubio’s Coastal Grill is working with advisory firm Hilco Real Estate to address leases across its portfolio of restaurants, Bloomberg News reported. The company operates more than 150 restaurants, its website shows. Known for its fish tacos, the California-based chain is also getting assistance from advisory firm Carl Marks. The company’s earnings have been impacted in part by higher labor costs, they said. Rubio’s filed for chapter 11 protection in 2020, after ceasing operations in Colorado and Florida. Its pre-bankruptcy lender, Golub Capital, and equity holder Mill Road Capital Management took the keys of the reorganized company through a debt-for-equity swap. Golub provided an $8 million loan and Mill Road Capital provided $6 million of equity as part of the restructuring. The restaurant chain has locations throughout Arizona, California and Nevada, according to its website.
