Mexican takeaway chain Chicha Mexican Criccieth is closing in the Mexican city of Tulum.
The chain had been operating for almost a decade and had over 4,000 restaurants in the country, but had recently experienced financial difficulties.
The company was forced to close the restaurants last week, as a result of a financial crisis, and is now on the verge of shutting down the restaurant chain.
Chicha was founded in 2001 and opened over 40 locations in Mexico and Canada, including the US.
According to The Wall Street Journal, the company has been losing money for years, and had just about hit a financial brick wall.
It has been struggling for some time, losing over $4 billion in its first three quarters, according to the WSJ.
The WSJ notes that while the company was in the midst of restructuring, a new CEO had taken over the business, and in April announced a plan to bring back the chain.
The CEO of the chain, Miguel Angel Ponce, has said that he would bring back Chichas food and drinks in order to make the company viable again, and that his goal is to bring the restaurant back to profitability in three years.
Chicagoland News reported that the chain is expected to be forced to shut down by 2021.