Bar Louie closes 38 locations amid bankruptcy
Bar Louie has closed 38 corporated own locations as the company files for Chapter 11 bankruptcy protection.
- Founded in Chicago over 30 years ago as a “gastrobar,” the chain eventually grew to 134 locations.
- However, declining performance has lead the company to be more than $100 million in debt.
- Bar Louie had been acquired by Sun Capital Partners in 2010.
- From that point, the company often opened locations near shopping malls, which mean these restaurants suffered as mall traffic declined.