On October 30, 2017, Cornbread Ventures, LP, the owner of the Z’Tejas Southwestern Grill chain of restaurants, commenced a Chapter 11 reorganization case in the U.S. Bankruptcy Court in Phoenix, Arizona. The company intends to use the special tools available under the Bankruptcy Code to restructure the balance sheet, reorganize and enhance its operations, and lay a new foundation for the growth of its distinctive, well-loved brand within the Phoenix and Austin communities. As the company pursues its carefully-planned reorganization, its Phoenix-area and Austin-area locations will continue to serve our new and loyal customers by delivering an even higher-quality dining experience, innovative flavors, and friendly service that our guests have come to expect at Z’Tejas.
Stephen O’Connor, the company’s chief operating officer, said: “We plan on using this unique opportunity to give our customers what they should expect—a commitment to service, new whole-food based recipes, and overall dining experience that has our customers coming back time and again. We’re excited about the future of Z’Tejas.”
The locations at the Arboretum and 6th Street in Austin remain open for business, as do the Phoenix-area locations in Paradise Valley and Chandler. Last week, the company closed four under-performing locations.
The company has retained Jordan Kroop of Perkins Coie LLP in Phoenix as the company’s restructuring counsel.
Z’Tejas is an iconic brand and integral part of the Phoenix and Austin communities that continues to support local charities and organizations, having donated more than $200,000 through its Cornbread For a Cause initiative in the past two years.
