Abuelo’s turns a profit in bankruptcy protection – seeks more time in reorganization plan

Abuelo’s turns a profit in bankruptcy protection – seeks more time in reorganization plan

Abuelo’s turned a $1.4 million profit in November, according to the most recent monthly financial report in bankruptcy court, and late last month a judge granted the company more time to work on its Chapter 11 bankruptcy plan. The Lubbock-based national restaurant chain filed for reorganizational bankruptcy on September 2 amid rising costs and “consumer weakness,” which LubbockLights.com covered here. At one time, Abuelo’s had nearly 40 location…