US EditionBar Louie locations at Crocker Park, Legacy Village close
- Texas-Based Bar Louie, founded in 1990, recently closed 14 underperforming restaurants across Tennessee, Colorado, New Jersey, Ohio, Illinois, Michigan, Missouri and Texas after abruptly shutting down all locations in the preceding weeks and days.
- Bar Louie cited rising food and labor costs, as well as changing consumer preferences, as reasons for filing for Chapter 11 bankruptcy protection on Wednesday in the District of Delaware court.
- The company's bankruptcy filing lists assets between $1 million and $10 million and liabilities between $50 million and $100 million, with US Foods being the largest creditor owed over $1.8 million.
- Bar Louie's website listed 48 locations as of Wednesday, a significant decrease from its peak of 134 locations internationally in 2018 and 66 locations at the end of 2023, while company sales dropped 2.3% in 2023.
- Like Red Lobster, Tijuana Flats, and Buca di Beppo, Bar Louie's recent bankruptcy filing marks the second time it has filed for Chapter 11 in five years and follows a busy year of restaurant bankruptcies, as the company plans to restructure and maintain operations during the process.
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Leaning Left1Leaning Right1Center2Last UpdatedBias Distribution50% Center
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