Logan’s Roadhouse Inc. filed for Chapter 11 bankruptcy protection Monday, according to a statement released by the company.
The company said it will be closing 18 under-performing restaurants as part of the overall efforts to improve its financial performance, according to the company statement, but it did not give any details on the locations.
The Nashville-based chain filed petitions with the U.S Bankruptcy Court in the District of Delaware seeking reorganization under Chapter 11 of the U.S. Bankruptcy Code. Chapter 11 bankruptcy allows a business to reorganize itself and pay creditors back over time.
The chain has (continue reading)