Tolteca, the Mexican food chain, announced last week that it will be closing all of its Dublin restaurants, due to ‘challenging trading conditions’.
The establishment founded by Tony Comaskey in 2011 had four restaurants: in Baggot Street, Suffolk Street, Rathmines and Montrose.
The restaurant was well known for its burritos, tacos, fajitas and salads.
‘Heavy Heart’
‘It is with a heavy heart that we share this news tonight,’ wrote the Tolteca team in a statement on Instagram.
‘Unfortunately, due to challenging trading conditions, Tolteca will not reopen after this evening.’
Rescue Plan
Tolteca had appointed a process advisor to the company in October 2023, in accordance with Section 558E of the Companies Act 2014, for the purpose of preparing a rescue plan.
However, this move proved unsuccessful.
Truly Treasured
‘Our gratitude extends to you our valued customers for being the heartbeat of Tolteca,’ wrote the owners.
‘The memories we’ve shared together are truly treasured, and we are thankful for your unwavering support.
‘Thank you for being an integral part of our culinary journey.’
‘How Many More?’
Adrian Cummins, CEO of the Restaurants Association of Ireland, also commented on the closures.
‘Mexican food chain Tolteca to close Dublin outlets,’ wrote Cummins on X (formerly Twitter).
‘How many more food-led businesses will have to close until government restores the 9% vat rate?’
‘Targeted Support’
The news of Tolteca’s closure was announced in the same week that the RAI issued a statement warning that the next few weeks are going to determine the future of the food-led hospitality industry.
‘The Government can choose to listen to restaurant and café owners who have pleaded with senior ministers in recent weeks to reinstate the 9% VAT rate, allow for warehoused debt repayments to be phased over ten years, and introduce targeted support for those businesses in our low-margin, labour-intensive [industry] that need it most,’ read the statement on LinkedIn.
‘Or, alternatively, it can continue down the path it is currently on: refusing to afford small, independent restaurants and cafés across the country a viable future through the reinstatement of the 9% VAT rate, and continuing to insist that €257 million of untargeted grant aid support capped at €5,000 per business will be enough to avoid an avalanche of restaurant and café closures despite constant warnings that it will not.’
