Logan’s Roadhouse Emerges from Bankruptcy
Menu Revamp, Marketing Campaign Launched
Nashville, TN (RestaurantNews.com) Logan’s Roadhouse, Inc., a leading casual dining steakhouse chain, today announced its emergence from chapter 11 under its Plan of Reorganization.
As part of the confirmed plan, overwhelmingly supported by Logan’s creditors and owners and termed “excellent” by the presiding judge, the company has:
Restructured its balance to reduce its debt from approximately $400 million to just over $100 million, while significantly lowering its interest expenses. Exited 34 underperforming restaurants, resulting in aggregate incremental EBITDA of $3.6 million leaving the Company with a portfolio of strong performing restaurants. Renegotiated leases and