Three Twisted Root Burger Co. locations in Texas filed for bankruptcy in early June due to the ongoing effects of COVID-19.
The units—based in Arlington, Coppell, and Carrollton, Texas—filed separately. They’ve all been closed since late March, shortly after the COVID pandemic began.
The stores are co-owned by Jason Boso, who oversees 12 of the chain’s 17 locations across the U.S. The remaining five are franchises, according to the Dallas Morning News. Boso told the outlet that more of his restaurants may file for bankruptcy soon if he’s unable to negotiate with landlords and vendors. He can’t guarantee that any of his 12 locations will reopen.
Company-wide, only three restaurants are currently operating via off-premises. A fourth location is listed as being in operation, but “closed for cleaning” through June 30.
The Arlington restaurant has between $100,000 and $500,000 in assets and between $500,000 and $1 million in liabilities. According to court documents, the Arlington unit earned about $87,000 in sales during March, down from roughly $100,000 in February and $99,000 in January.
Carrollton has between $100,000 and $500,000 in assets and between $1 million and $10 million in liabilities. The Carrollton location notched about $98,000 in sales in March, a decrease from approximately $124,000 in February and closer to $125,000 in January.
Coppell has between $500,000 and $1 million in assets and between $500,000 and $1 million in liabilities. The restaurant earned $69,000 in sales during March, a slide from $88,000 in February and $82,000 in January.
Boso temporarily laid off 527 employees, including himself, at the beginning of the COVID outbreak, the Dallas Morning News reported. He’s using Payroll Protection Program loans to pay salaries for full-time staff. Carrollton received a $132,748 loan, while Arlington received $115,945 and Coppell received $113,559.
“I think I’m one of the first to get on this [bankruptcy] bandwagon, but I’m certainly not going to be the last,” Boso told the Dallas Morning News. “I think a lot of these guys that are open are winging it on a hope and a prayer. They’re dripping away their cash. By the time they go back to their landlord to negotiate a better lease to survive, it’s going to be too late. They’re going to be out of cash.”
The first Twisted Root Burger was opened by Boso and Quincy Hart in Dallas, Texas, in 2006. The brand appeared on the second season of Guy Fieri’s “Diners, Drive-Ins, and Dives” in 2009.
