Logan’s Roadhouse restaurant chain files for bankruptcy

Logan’s Roadhouse Inc., which operates three restaurants in the Dayton region, announced today it has filed for bankruptcy and will close 18 “underperforming” locations in the 256-unit chain as it restructures its debt, multiple news outlets reported today.

It wasn’t immediately clear this afternoon what impact the bankruptcy filing would have on the three local Logan’s Roadhouse restaurants: on Miamisburg-Centerville Road near the Dayton Mall; off North Fairfield Road near the Mall at Fairfield Commons; and in Troy.

The chain’s CEO, Sam Borgese, is leaving the company, and no replacement was immediately named, according to Nation’s Restaurant News.

“The company will be closing 18 underperforming restaurants as part of the overall efforts to improve the company’s financial performance,” the company said in a statement. “A plan is in place to assist employees in closing restaurants, reassigning employees to other Logan’s restaurants and providing them with outplacement services and assistance with applying for jobs.”

The list of restaurants targeted for closure was not released.

The Nashville, Tenn.-based company said that it filed under a “consensual plan” among its owners, debt holders and bondholders. Logan’s plans to restructure its balance sheet and provide enough to fund a turnaround.

“The company’s owners, lenders, bondholders, board of directors and senior management are committed to ensuring the company’s future growth and success, and today’s filing is simply a necessary step to achieve those goals,” Logan’s said in a statement.

The casual-dining chain has struggled with heavy debt and falling sales.

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