NASHVILLE, Tenn. (WKRN) — The CEO of Plaza Mariachi provided an update after filing for voluntary Chapter 11 bankruptcy protection more than a year ago.

In July 2024, CEO Mark Janbakhsh announced the filing for protection. On Thursday, a press release from Mark and his wife Diane Janbakhsh announced that Plaza Mariachi, LLC filed a "sale-leaseback." Per the press release, that means the land is being sold to an investor then being leased to Plaza Mariachi Ventures, LLC for up to 30 years.

"Plaza Mariachi is here to stay, and this sale makes that possible," the statement reads, in part. "We expect that this transition will be approved by the Bankruptcy Court, and that this will end the bankruptcy matter Plaza Mariachi, LLC has been involved in. We look forward to continuing to entertain a

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