PROVIDENCE – The casual restaurant/pub chain Bar Louie with a location in Providence, announced Monday that it filed for bankruptcy under Chapter 11. The move follows the abrupt closing of numerous locations including New England.
The Bar Louie at Union Station remains open and was doing business as usual as of Monday afternoon. In advance of the bankruptcy filing, the company in a press release announced it had “closed underperforming locations to strengthen its operational and financial position.” Bar Louie shuttered 38 of its 90 locations primarily in the Midwest.
Several of the so-called “gastropubs” in Ohio, Wisconsin, Michigan and Colorado closed without notice as did two locations in Connecticut. According to staff and a local manager at the Providence Bar Louie, the company’s West Hartford restaurant was locked when employees reported for work on Sunday, January 26. Employees called the Providence operation looking for answers.
According to the Hartford Courant, in addition to the West Hartford, Conn., location, the Bar Louie in Milford, Conn., also was closed.
According to the release, Bar Louie has received commitments from its lenders for debtor-in-possession financing. This financing will allow Bar Louie to continue operations, effectuate the transaction, and fund post-bankruptcy operating expenses, including its obligations to employees and suppliers.
The Bar Louie restaurants in Boston’s Fenway neighborhood and at Patriot Place in Foxboro remain open as well. CEO Tom Fricke said in the release the company is profitable and focused on growth despite the closures.
PBN calls to corporate headquarters in Addison, Texas, were not returned.
Bruce Newbury is a PBN contributing writer.
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