Z’Tejas Inc. CEO Steven Micheletti says the Southwestern restaurant chain and its Taco Guild restaurant in Phoenix will stay open. Scottsdale-based Z’Tejas filed for Chapter 11 bankruptcy earlier this month. The filing was for the restaurants Z’Tejas locations and its Taco Guild restaurant at Seventh Street and Osborn Road. Here’s part of Micheletti’s statement: “Z’Tejas filed for bankruptcy to restructure its long-term debt and other financial obligations.