Logan’s Roadhouse Inc. filed for bankruptcy in Delaware after competition from rival casual-dining chains ate into its sales, Bloomberg News reported yesterday. The operator and franchiser of over 250 roadhouse-themed restaurants in 23 U.S. states has suffered as other companies offered steep discounts and improved technology with tabletop tablets and order-ahead capabilities. The Nashville, Tenn.-based chain tried to attract diners with Southern-inspired cuisine such as bread pudding, brisket nachos and glazed chicken wings, as well as Happy Hour deals, but revenue still fell 9.9 percent to $131.3 million in the quarter ended Oct. 28. Logan’s has entered into a restructuring support agreement with revolving facility lenders and holders of over 83.9 percent of about $378 million in notes that will reduce debt by over $300 million, Keith Maib, chief restructuring officer, said in court papers. The agreement also includes exit financing, Maib said.
