Tex-Mex Chain With Wichita Falls Location Files for Bankruptcy

Another day, another business experiencing financial troubles. This time, it’s a popular Tex-Mex chain with a location here in Wichita Falls. 

I must admit to being surprised when I saw Nation’s Restaurant News report that Irving-based On the Border has filed for Ch. 11 bankruptcy protection. It’s surprising because the location at Sikes Senter Mall always seems to be pretty busy. 

That said, like so many other people, I don’t go out to eat as often as I used to due to it being so expensive. I figure that’s a big part of the problem. But what can I say? Most folks’ wages aren’t keeping up with inflation, and going out to eat is a luxury many can’t afford.

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What does Chapter 11 bankruptcy mean for the Wichita Falls location? 

According to United States Courts, “Chapter 11 of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A Chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals also can seek relief in Chapter 11.” 

So, the good news is that they’re not liquidating their assets, which means that while some stores may close, stores that perform well should be okay. Hopefully, that’s the case with the Wichita Falls location.

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