Mike Karns, owner of Meso Maya and El Fenix, is about to get an unlimited supply of cheese fries. His Firebird Restaurant Group has stepped in to aid the Snuffer's burger chain with a financial boost.
According to the release, Firebird purchased Snuffer's bank note and is the lender to the five Snuffer's that are in bankruptcy. Founder Pat Snuffer made the introduction between his bank, Texans Credit Union, and Karns. Firebird purchased the debt and is the secured lender in the bankruptcy proceedings.
"I saw this as a worthwhile investment and knew that Firebird Restaurant Group's expertise in the hospitality industry gives us a unique, knowledgeable perspective as a lender," said Karns in a statement, with no mention of the cheese fries at all.
Karns' belief in the preservation of well-known restaurant brands led him to purchase El Fenix from the founding Martinez family in 2008. In September 2013, El Fenix will celebrate its 95th anniversary with month-long festivities.
Pat Snuffer opened the first Snuffer's Restaurant & Bar on Greenville Avenue 35 years ago. That location was recently demolished and is under construction; it's scheduled to reopen in the fall. There are seven branches of Snuffer's, including Addison, Park Cities, Plano, Rockwall, Southlake and Highland Village.
Snuffer's Restaurants Incorporated, which operates five of the stores of the popular chain, filed for Chapter 11 bankruptcy protection Monday, March 4, 2013. Pat Snuffer continues to run the business with his team.