Company that Owns Logan’s Roadhouse Files for Bankruptcy
CraftWorks Holdings, the company that owns Logan's Roadhouse and Old Chicago has filed for Chapter 11 bankruptcy.
The company said in its press release that they are planning on selling their assets to their senior lenders to reduce their debt about $140 million, or 60%. The move will also increase its liquidity.
CraftWorks is based out of Nashville and has 338 locations in 39 states and D.C. which include restaurants, breweries and entertainment venues. They plan on keeping all of them open and running.
...including honoring all gift cards and continuing to offer all loyalty programs. Its 77 franchise locations continue to operate as usual.
37 of their most underperforming locations have closed in the last few weeks. The bankruptcy filing will not affect current employees or their pay and benefits.
The CEO said in a statement that in the last 16 months they have begun to offer new and higher-quality menu items and improved guest service which has already seen an increase in sales.
There are several Logan's Roadhouse locations in Michigan including 6 in West MI: Caledonia, Grandville, Walker, Holland, Norton Shores, and Portage.
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