Rubio’s – the Mexican restaurant chain based in California – has joined the growing list of restaurant chains in recent months that have filed for Chapter 11 bankruptcy.
Their sales have declined for the last few years, so they’d been in trouble even before the pandemic, but that’s just exacerbated their problems. Rubio’s had already closed their 26 locations in Florida and Colorado, along with a handful of other locations.
The fact that they’ve filed for bankruptcy doesn’t have any immediate impact on being able to use Rubio’s gift cards. As with other similar cases though, the fact that they’re filing for bankruptcy shows that they’re in a precarious position, especially seeing as their problems have been mounting for several years.
If you’re holding any Rubio’s gift cards from past deals, it might be worth redeeming or reselling them as soon as possible in case the restaurant chain abruptly closes. It may well be that they emerge from bankruptcy proceedings in a better position, but it doesn’t seem worth holding on to their gift cards unnecessarily.