Logan’s Roadhouse promise to improve more after bankruptcy
Posted on Monday, December 5th, 2016 at 2:49 pm
Well-known casual dining restaurant chain in the U.S., Logan’s Roadhouse, is expected to make major improvements to their marketing strategy after announcing that they have exited Chapter 11 Bankruptcy, an article of Dayton Daily News reported on November 30.
According to reports, one of Logan’s Dayton, Ohio outlets ceased operation in September, claiming that they failed to afford the renegotiation process for the location’s lease as the rent is costly—an excuse used in the shutting down of over 30 restaurants that were “underperforming”. Logan’s reportedly owns 195 stores and has 26 franchises in 20 states, including some in North Carolina. In a statement, senior managing director Nishant Machado said that they have been committed and consistent in bringing back Logan’s. In August, the company filed for bankruptcy for a chance to reorganize the company and reduce their overwhelming debt of roughly $400 million. Logan’s was able to reduce its debt to over $100 million through a bankruptcy procedure.
Filing for bankruptcy, fortunately, is a viable solution for struggling business owners to figure out how to improve their business. If you are in such situation in Raleigh, the attorneys of Bradford Law Offices, PLLC may represent you. Call us today at (919) 758-8879 to find out how we may help you recover from your financial footing.