Tony Roma’s eponymous company opened in 1972 in Miami, Florida. At first, it was a regular steak and hamburger restaurant. But then, one day, the Chef decided to add in baby back ribs served with a rib sauce developed by Tony Roma. This proved to be the restaurant’s shining moment. Tony Roma’s became a symbol of barbecue rib dinners in the U.S. and was growing at a fast pace through word of mouth. However, in 2005, Romacorp declared bankruptcy. It was unable to sustain the high-interest debt that it incurred with the recapitalization it did in 1998. The financial crisis in 2008 aggravated their situation.
