Top U.S. Mexican dining chain files for bankruptcy - mexican restaurant dishes explained

(Reuters)-
The leading Mexican restaurant operator in the United States filed for bankruptcy on Tuesday and sold its El Torito, Chevys Fresh Mex and Acapulco Mexican chain.
Royal Mexican restaurant
In a filing filed by the Delaware bankruptcy court, UL said there would be no money soon.
The company said the company suffered from the economic downturn, high rental and debt burdens and a substantial increase in food costs.
A subsidiary of Sun Capital Partners Inc. holds the company's largest stake in more than 200 restaurants operated or franchised, mainly in California.
Several other restaurants and food companies are in trouble because of rising food costs and rising food prices in the United States. S.
The economy has stepped out of a severe recession, and preparation food maker Chef Solutions Holdings Ltd also sought bankruptcy protection on Tuesday.
Chain restaurants including Perkins & Marie Callender's Inc. , Sbarro Inc. , Fuddruckers and Charlie Brown steakhouse have recently filed for bankruptcy, chicken producer Alan Family Food
Friendly's, another Sunshine Capital investment firm, is also reportedly preparing to file for bankruptcy.
Sun Capital did not immediately respond to calls seeking comment.
According to a court document, Real Mex says its assets and liabilities range from $100 million to $0. 5 billion.
Cypress trees in California
The California-based company dates back to the first El Torito restaurant opened in 1954.
The company was hit hard by the collapse of the California real estate market and the recession.
Annual revenues fell from $0. 553 billion in 2008 to $0. 478 billion last year.
The company said it plans to go public for sales in the next three months.
While it does not name the bidder who initially or followed the horse, as the bankrupt company often does, it says it can sell the business to the holder of the second companylien notes.
These creditors include tennencapital Capital Partners, Credit Suisse Asset Management and JPMorgan Investment Management, according to court documents.
In court documents, the Royal Mexican company said the final cash was $1 million.
The company plans to request the Delaware bankruptcy court to approve GE's $49 million bankruptcy loan or DIP loan (GE. N)
GE Capital pays employees and other expenses when it goes bankrupt.
A source close to the negotiations said Z Capital, the main holder of the company's unsecured loans, was preparing to ask the court to approve the bankruptcy loans of its competitors --
Quite unusual request in Bankruptcy Case
Hearing considering bankruptcy loans, etc-
The so-called first day motion is scheduled for Wednesday, according to a company spokesman.
The chef's solution also went bankrupt in Delaware on Tuesday.
The company's Orval Kent business is second.
According to court documents, the largest deli manufacturer in North America.
The company provides side dishes and cooked salad for retailers such as Wal-Mart.
Mart department store (WMT. N)
Trader Joe's and Costco Wholesale (COST. O)
But squeezed between rising costs and weak demand.
Chef Solutions were purchased from Lufthansa Airlines in 2004 by funds related to Questor Management Co, a turnover Master Jay Alix and AlixPartners
Questor declined to comment.
In bankruptcy, Chef Solutions offered a quick sale to a joint venture of Mistral Capital Management LLC and Reser's Fine Food Company, which produces salads and side dishes.
The two will bid about $62 million, cash mixed with debt owed to Mistral as a creditor for the chef's solution and cash.
The two also agreed to take some responsibility.
The proposed sale will be subject to a higher offer and must be approved by the bankruptcy court.
The funds raised will help to repay the chef's solution debt.
The company estimates its assets and debts to be between $100 million and $0. 5 billion.
Case In re: Real Mex Products Inc. , Case No. 11-
13122, In re: Chef Solutions LLC, Case Number11-13139, U. S.
Delaware bankruptcy court.