Bones Grille Sold to Margaritas Mexican Restaurant

has closed.

Welcome Margaritas Mexican Restaurant.

In a story reported first to the public on Montgomeryville-Lansdale Patch's Facebook page, the Towamencin restaurant shut its doors on Monday after six years in business.

Owner Bill Fretz was quoted in The Reporter Newspaper as saying Bones Grille had run its course:

“Business was not growing. It was not where I needed it to be, and I saw this as a good opportunity for a new business at that location.”

The new owner is Craig Colby, president of The Colby Restaurant Group, Inc., Colby Brands and Mid-Atlantic Restaurant Concepts.

Colby said in The Reporter that the restaurant is targeted to open Sept. 10.

According to Multi-Unit Franchisee Issue II 2012, Colby, 48, owns four Red Robin Gourmet Burger restaurants and four Cosi restaurants in southern New Jersey and Delaware, and has agreed to operate five Tio Juan's Margaritas. At one time, Colby and his twin brother Michael owned 15 Burger King restaurants. He has been in the franchise restaurant business for 18 years.

The Towamencin Margaritas Restaurant will be the first one in Pennsylvania, according to the Margaritas Restaurant website.

"This should effectively double our company's revenues or better," Colby is quoted in the Multi-Unit Franchisee magazine.

In The Reporter article, Colby said the Margaritas Mexican Restaurant would be a full-service restaurant and happy hour stop for commuters heading home from the Upper Gwynedd and Towamencin area.

“We’re going to have a great bar atmosphere and great food,” Colby said in the article.

The property is owned by Towamencin Town Center Associates LP, a division of Trefoil Properties. Trefoil is leasing the property directly to Colby.