Logan's Roadhouse chain files for bankruptcy

Yet another chain restaurant with Southeast Missouri locations has filed for bankruptcy protection. Logan’s Roadhouse Inc. has filed petitions with the U.S. Bankruptcy Court in the District of Delaware seeking reorganization under Chapter 11 of the U.S. Bankruptcy Code.

According to the company’s news release, the filings are part of a consensual plan among the owners, first-lien lenders and bondholders to restructure the company’s balance sheet and position it for future success.

As part of the restructuring, Logan’s CEO Sam Borgese is leaving the company. In addition, 18 under- performing restaurants will close as part of the overall efforts to improve the financial performance of Logan’s Roadhouse.

The restaurants that will be closed were not released. Logan’s location in Cape Girardeau is at 3012 William St.

According to the news release, there are plans in place to assist employees in closing restaurants, reassign employees to other Logan’s restaurants and provide them with outplacement services.

In addition to the restructuring, the company is also focused on initiatives to improve guest experience. The combination of initiatives and restructuring will prove Logan’s “can be extremely successful going forward,” the news release said.