Logan’s Roadhouse in Cullman to stay open; no word yet on Ruby Tuesday

By:
0
2915
tripadvisor

CULLMAN – Last week, Logan’s Roadhouse Inc. officially filed for Chapter 11 bankruptcy and announced it would be closing 18 underperforming restaurants. The company has now released the list of affected locations, now at 21, and the Cullman store is not on it.

Roadhouse Holding Inc., the chain's parent company, is 97% owned by a New York-based private equity firm. According to CoStar, as a part of the bankruptcy, the owners asked the court to "reject the leases of 21 of its restaurants, about 10 percent of its eateries."

A statement from Logan's last week said that "a plan is in place to assist employees in closing restaurants, reassigning employees to other Logan’s restaurants and providing them with outplacement services and assistance with applying for jobs."
The chain has about 250 restaurants in 50 states with 18,964 employees, including 1,002 full-time workers.

As of the end of October last year, Logan's had $12.9 million in cash and $525.4 million in liabilities.

Assets were estimated at between $100 million and $500 million and the company has as many as 25,000 creditors. Logan's has about $416 million in debts, almost all of which is secured. Real estate investment trust National Retail Properties leads all other creditors and is owed more than $52,000, according to court filings.

Logan’s in Cullman is located at 6092 Alabama Highway 157.

Here are the 21 locations that will be closing:

  • 2649 S. Market Street, Gilbert, Arizona
  • 11674 University Dr, Orlando, Florida
  • 7480 W. Colonial Drive, Orlando, Florida
  • 1230 N Westover Blvd., Albany, Georgia
  • 101 Capital Square Drive, Brunswick, Georgia
  • 11301 Abercorn Street, Savannah, Georgia
  • 51 Lincoln Hwy, Fairview Heights, Illinois
  • 4825 E. 82Nd St, Indianapolis, Indiana
  • 10780 Parallel Pkwy, Kansas City, Kansas
  • 7940 W 135th St, Overland Park, Kansas
  • 3050 Riffel Dr., Salina, Kansas
  • 2945 Wimsatt Ct, Owensboro, Kentucky
  • 6571 Blue Bonnet Blvd., Baton Rouge, Louisiana
  • 3323 Ambassador Caffery Pkwy, Lafayette, Louisiana
  • 14235 Hall Road, Shelby Township, Michigan
  • 7110 Sawmill Rd, Columbus, Ohio
  • 2310 Wilkes-Barre Township M, Wilkes- Barre, Pennsylvania
  • 2200 S. Hwy 6, Houston, Texas
  • 21119 US-281, San Antonio, Texas
  • 12821 Fair Lakes Pkwy, Fairfax, Virginia
  • 46321 McClellan Way, Sterling, Virginia

Meanwhile, another popular chain, Ruby Tuesday, announced on Aug. 12 that it will be closing 95 locations. There is no word yet on whether or not the Cullman store will make the cut.

 

Copyright 2016 Humble Roots, LLC. All rights reserved.