Logan’s Roadhouse abruptly closed their Salina location earlier this week after the company filed for Chapter 11 bankruptcy protection on Monday.
The company closed 18 underperforming locations this week, including the Salina location at 3050 Riffel Drive.
Logan’s said in a statement that its Chief Executive Officer, Sam Borgese, will leave the company, but a replacement has not been named.
The steak and Southern-inspired casual dining chain said that it had secured support for its restructuring plan from its first-lien lenders and bondholders and landed up to $25 million in bankruptcy financing. Logan’s has about $416 million in debts, almost all of which is secured.
In a court filing, Logan’s Chief Restructing Officer Keith Malb said the company’s “customers continue to face pressure on discretionary income, directly correlating to depressed restaurant sales and reduced customer traffic.”
The Nashville, Tennessee-based chained is owned by LRI Holdings, which is currently controlled by Kelso & Company, and has more than 200 locations nationwide, including 26 franchised locations.
Salina’s Logan’s location opened in 2009.