Founded in Abilene, Taco Bueno files for bankruptcy

(Google Maps)

Taco Bueno has filed for bankruptcy and will be purchased by a new company.

The fast food chain, which was founded in Abilene more than 50 years ago, filed for Chapter 11 bankruptcy in Dallas on Tuesday.

As part of the reorganization, Sun Holdings has agreed to acquire all of Taco Bueno’s debt and will provide up to $10 million in financing to keep it running during the restructuring process.

RELATED: Creator of Taco Bueno dies at age 79

Sun Holdings would become the new owner and plans to remodel Taco Bueno locations, “increasing brand initiatives and enhancing the customer experience."

It operates more than 800 locations in eight states, including Burger King, Popeyes, Arby’s, Golden Corral and Krispy Kreme.

The first Taco Bueno restaurant opened on S. 1st Street in Abilene in 1967. There are now more than 180 locations in seven states.

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