INDIANAPOLIS, Ind. – Nashville, Tenn.-based Logan’s Roadhouse filed for bankruptcy protection this week and plans to close 18 locations around the country.
The steak chain has nine restaurants in Indiana, including locations in Indianapolis, Fort Wayne, Greenwood, Lafayette, Mishawaka, Plainfield and South Bend. The filing didn’t indicate which locations would close as the company tries to restructure or if any of the Indiana restaurants would be affected.
Logan’s has nearly 19,000 employees at 234 company-owned restaurants. Twenty-six of the restaurants are franchised. The company said it planned to help employees affected by the impending closures, according to a statement.
The filing indicated that “customers continue to face pressure on discretionary income, directly correlating to depressed restaurant sales and reduced customer traffic.”
According to USA Today, Logan’s endured a tough first half of the year and saw traffic drop by 8.8 percent and sales dip by 4 percent. The company has about $416 million in debt.
Logan’s Roadhouse was founded in Lexington, Ky., in 1991 and went public in 1995. It was sold to the Cracker Barrel chain in 1999 before LRI Holdings bought the company in 2006.