Razzoo’s now has 11 locations in Texas and North Carolina. | Photo: Shutterstock
Razzoo’s Cajun Cafe has been acquired out of bankruptcy by M Crowd Restaurant Group, a Dallas-based company that owns the 23-unit Mi Cocina chain and other brands.
M Crowd was named the stalking-horse bidder with an $18.8 million credit bid ahead of an auction scheduled for Dec. 12. No other buyers came forward, according to court documents, allowing M Crowd’s bid to go through.
Addison, Texas-based Razzoo’s filed for Chapter 11 bankruptcy in October with $9.7 million in secured debt and about $3.1 million in unsecured debt. It cited a difficult economy, inflation and competition from national brands like Chili’s and Applebee’s.
Founded in 1991 in Dallas, Razzoo’s is known for its unique Cajun menu featuring things like alligator, oysters and po’boys.
In a press release, M Crowd said it will work on improving Razzoo’s food and service, with an early focus on signature dishes such as the seafood combo platter and crawfish boils. It also plans to refresh the beverage program.
M Crowd also closed nine Razzoo’s locations. At the time of the bankruptcy filing, Razzoo’s had 20 stores in Texas and North Carolina. M Crowd said 11 will remain open, including the lone North Carolina location. That leaves Razzoo’s with less than half of the 24 locations it had prior to the filing.
“Razzoo’s has been part of the dining landscape for more than 30 years, and we believe deeply in its roots and potential,” said Edgar Guevara, CEO of M Crowd, in a statement. “This is a brand built on fun, flavor and community. Our goal is to honor what guests have always loved while investing in the people, food, and experiences that make Razzoo’s special.”
M Crowd was founded in 1991 by Michael “Mico” Rodriguez, Ray and Dick Washburne, and Bob McNutt with the opening of the first Mi Cocina location. Its portfolio also includes The Mercury, Sushi at the Mercury, Monkey Bar and Vaqueros Texas Bar-B-Que, all located in Texas.
The polished-casual Mi Cocina is the 10th-largest Mexican casual-dining chain in the U.S., with total sales of $91.6 million in 2024, according to Technomic.
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