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Bankruptcy Hits Moe's: Florida Locations Among Closures
17 Aug
Summary
- Moe's parent company files for Chapter 11 bankruptcy protection.
- Multiple Florida locations and others nationwide have closed.
- Rising costs and declining revenue cited as bankruptcy causes.
Quality Fresca, the parent company of Moe's Southwest Grill, has filed for Chapter 11 bankruptcy protection. This filing follows the abrupt closure of multiple restaurant locations across Florida and in other states, including Georgia and Virginia.
The company previously closed two of its Tallahassee, Florida stores more than a month ago. Recently, at least two Jacksonville locations were also shuttered as part of the bankruptcy proceedings. Moe's specializes in customizable Tex-Mex options like burritos, bowls, and tacos.
The bankruptcy filing was made on August 4th in the U.S. Bankruptcy Court for the Southern District of Florida. Quality Fresca reported assets of roughly $44 million against liabilities totaling approximately $52 million as of December 31, 2025.
According to G. Michael Verdisco, chief restructuring officer, several factors contributed to the decision to seek bankruptcy protection. These include industry headwinds, rising operational costs, and declining revenue, exacerbated by the COVID-19 pandemic's impact on foot traffic.
Verdisco also noted increased shipping and food costs, labor shortages, and general inflation as key challenges. While some restaurants remained profitable, others operated at a loss, preventing Quality Fresca from meeting its financial obligations.
