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Bank Seeks Receiver for Qdoba Owner After $20M Loan Default

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Sig4.86Sen-7.62Env0.00Soc-4.35Gov-6.28

Bank Midwest sued Langhorne-based TIG, accusing it of defaulting on a $20 million April 2025 loan. The lender says TIG is $18.3 million in debt tied to 41 Qdoba restaurants, has issued paper payroll checks instead of direct deposits, and lacks funds to cover employees. The complaint cites missed rent, unpaid sales taxes and DoorDash payments and alleges TIG delayed notifying the bank about the franchise ending and a required sale.

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