Logan’s Roadhouse Emerges from Bankruptcy

Menu Revamp, Marketing Campaign Launched

NASHVLLE, Tenn.--()--Logan’s Roadhouse, Inc., a leading casual dining steakhouse chain, today announced its emergence from chapter 11 under its Plan of Reorganization.

“While the industry as a whole has faced significant headwinds, which have been widely reported, we believe the roadhouse steakhouse concept is one which appeals to a large majority of Americans and Logan’s is focused on providing guests with value, quality and a superior experience”

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 contracts resulting in over $4 million in annual savings.

“We’re very proud of what the Company has accomplished in a little over 90 days with the balance sheet restructuring and the operational turnaround. We have a committed management team and a unified vision for the company that returns Logan’s to its roots. The pieces are now in place for a very bright future for our guests, employees and investors” said Nishant Machado, a Senior Managing Director at Mackinac Partners and who is leading the turnaround effort at Logan’s.

Through the operational turnaround the Company has instituted a number of changes to strengthen the brand to better serve its 30 million annual guests. Some of the broad changes implemented, driving the turnaround include:

  • A revised menu with a return to the restaurants’ most popular items from year’s past, and a focus on streamlining operations to improve quality and execution.
  • The launch of a major integrated marketing effort highlighting core favorites such as steaks, ribs and yeast rolls as well as the value Logan’s delivers to its guests. For more information, please visit www.logansroadhouse.com.
  • An investment in the teams through training, development and attractive compensation packages, to recruit and retain strong performers.
  • Revised training programs with an emphasis on the quality and hospitality.

“While the industry as a whole has faced significant headwinds, which have been widely reported, we believe the roadhouse steakhouse concept is one which appeals to a large majority of Americans and Logan’s is focused on providing guests with value, quality and a superior experience” Machado said.

Logan’s currently has 195 company-operated and 26 franchised restaurants in 20 states.

About Logan’s Roadhouse

Logan’s Roadhouse is a casual dining steakhouse offering our guests wood-fire-grilled steaks, made-from-scratch recipes, fresh ingredients and southern-inspired signature dishes in a roadhouse atmosphere. Logan’s opened its first restaurant in 1991 in Lexington, KY, and is headquartered in Nashville, TN.

Contacts

The Dilenschneider Group
Jonathan Dedmon, 312-553-0700
jdedmon@dgi-chicago.com

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