The parent company of Logan’s Roadhouse restaurants today announced it has emerged from bankruptcy and launched a turnaround effort that includes a revamped menu and a new marketing campaign.
The steakhouse chain operates two Dayton-area locations — in Troy and on Ohio 725 east of the Dayton Mall — although it shut down its Beavercreek restaurant near the Mall at Fairfield Commons in late September.
“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,” Nishant Machado, a senior managing director at Mackinac Partners who is leading the turnaround effort at Logan’s, said in a release. “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.”
The chain’s turnaround strategy includes:
• a revised menu with a return to the restaurants’ most popular items, and a focus on streamlining operations to improve quality;
• a major marketing effort highlighting core favorites such as steaks, ribs and yeast rolls as well as the value Logan’s delivers to its customers;
• revised training programs with an emphasis on quality and hospitality.
Logan’s Roadhouse Inc. filed for reorganization bankruptcy in August. As part of the bankruptcy reorganization, Logan’s Roadhouse already has:
• restructured its balance to reduce its debt from approximately $400 million to just over $100 million, while significantly lowering its interest expenses; shut down 34 “underperforming” restaurants, leaving the chain with a portfolio of what it called “strong-performing restaurants;” and renegotiated leases and contracts resulting in over $4 million in annual savings.
Logan’s currently has 195 company-operated and 26 franchised restaurants in 20 states.
The chain closed its location at 2819 Centre Drive near Wright State University on Sept. 27. Employees were told high rent and the upcoming renegotiation of a lease was a factor in the decision to close the Beavercreek location.
But the following month, a spokesman for Logan’s vowed the Troy and Washington Twp. locations “will remain open serving diners.”
“Logan’s will remain a strong presence in Dayton,” Logan’s spokesman Jonathan Dedmon told this news outlet via email in mid-October.