Manhattan Beach Rubio's Offers Election Special Amidst Bankruptcy

MANHATTAN BEACH, CA — Rubio's Coastal Grill, which has a location in Manhattan Beach, is offering Langostino Lobster Tacos for $3 each after 2:30 p.m. on Nov. 3rd, Election Day. In other Rubio news, the fast casual food chain has filed for Chapter 11 bankruptcy.

Rubio's intends to use the bankruptcy process to cut its debt and give its lenders ownership. The company was already facing financial issues as far back as 2017. In May and June of this year, the chain closed 26 under-performing restaurants in California, Florida, Arizona and Colorado.

The company went public in 1999 after much growth in the 1980s and 1990s. In 2010, the company was sold to Mill Road for $91 million.

Co-founder Ralph Rubio first discovered fish tacos during several surfing trips to Mexico while attending college. Soon after, he founded his namesake restaurant as a walk-up taco stand in San Diego's Mission Bay in 1983 and has sold 200 million fish tacos to date, according to the company website.

In more Rubio's news, just last year, the Home of the Original Fish Taco® added the "groundbreaking MyMenu® 2.0 platform, a virtual, personalized eating concierge powered by Healthy Dining" that "empowers Rubio’s guests to find menu items based on eating style preferences such as vegetarian, vegan, keto-friendly, gluten-friendly, sustainable seafood and/or by filtering out allergens and setting levels of macronutrients."

MyMenu 2.0 is mobile-responsive and features the ability for guests to view photos, menu descriptions, nutrition, allergen and other information for each menu choice, add or subtract ingredients with real time nutrition updates and track nutrition totals through the MyMeal feature, according to Rubio's.

“Rubio’s guests are food savvy and want to know about ingredients, sustainability, and whether items are vegetarian or vegan,” said Ralph Rubio. “They want nutrition and allergen information and are highly motivated to order a meal that meets their personal preferences. We are pleased to offer this high level of nutrition detail for our guests to track their meals and to feel confident about both what they, and their families, are eating.”

Rubio’s is also known for participating in a variety of ocean-centric efforts throughout the year including its annual CoastFest celebration and beach cleanup. Headquartered in Carlsbad, CA, Rubio's has more than 3,000 employees and about 170 locations.

Said Marc Simon, president and CEO of Rubio’s, in a statement, “Rubio’s entered the year in a strong financial position, which has helped the Company remain flexible in navigating the unprecedented impact of the pandemic. The agreement with our sponsor and lenders will position the Company to thrive in this constantly evolving market. This plan will strengthen our finances and allow us to continue to serve our loyal guests and drive our business forward.”

During the pandemic, which forced the chain to shut its dining rooms which accounted for 47% of their sales, Rubio's has attempted to cut costs by closing stores, cutting corporate pay by up to 30%, and furloughing 45% of management employees and more than 1,400 restaurant workers.

Rubio’s prepackaged restructuring plan has been approved by its lenders and the bankruptcy court calls for cutting a portion of the company’s debt in exchange for stock in the reorganized company. The company is requesting full forgiveness of a $10 million loan from the Paycheck Protection Program.

Rubio's said the plan would significantly reduce debt, and that it expects to emerge from Chapter 11 by year end.

In Manhattan Beach, Rubio's Coastal Grill is at 2000 North Sepulveda Boulevard; (310) 939-7098. Curbside pickup is available.