Rubio’s is filing for bankruptcy. The California-based Mexican restaurant chain will close down 48 locations, keeping 86 open in California, Arizona, and Nevada. Rubio’s says “the rising cost of doing business in California” is driving the bankruptcy.
The state raised the minimum wage for workers at large fast-food chains from $16-bucks per hour to $20-bucks per hour. The bankruptcy petition says Rubio’s has over 100-million-dollars in debt.
