New Delhi, Oct. 12 -- Abuelo's, the family-style Mexican restaurant that has been serving enchiladas and fajitas for 36 years, has filed for bankruptcy protection. The move follows years of falling sales, rising costs, and a shrinking footprint across the US, reports Pennlive.com. At its height, Abuelo's operated 40 restaurants nationwide. Today, just 16 remain open.

The company, owned by Food Concepts International, quietly filed in the US Bankruptcy Court for the Northern District of Texas. Court documents show debts and liabilities estimated between $10 million and $50 million.

Food Concepts International also filed for bankruptcy last month, and the two companies have asked the court to merge their cases.

"This decision is a part o...