After 20 years, Bar Louie has had its last call.
The chain restaurant in Central Park closed last week, a spokesperson for The Shops at Northfield told BusinessDen.
The restaurant opened at the shopping center in 2006.
The spokesperson did not say why the restaurant shuddered, but it appears connected to a Chapter 11 bankruptcy its Dallas-based corporate parent filed on March 26.
The chain also had a spot at the Belmar shopping center in Lakewood, which also recently closed according to Yelp. Management did not return a request for comment.
Court documents show Bar Louie closed 13 locations before it went bankrupt.
In a press release, the company said those spots were “underperforming” and closed before the filing to “enhance its financial stability.”
The chain did not respond to a request for comment.
“Inflationary pressures have caused consumers, generally, to cut back on dining out. At the same time, menu prices have risen to keep pace with increased food, utility and labor costs,” Leslie Crook, chief administration officer for Bar Louie, wrote in the filing. “As a result, many of the Debtors’ restaurants have underperformed, causing a drag on the Debtors’ financial performance and management attention.”
As of Dec. 1, 2024, Bar Louie’s earnings were 9 percent less than the same period in 2023, the filing stated. The documents show the business has between $1 million and $10 million in assets and $50 million to $100 million in liabilities.
It owes its biggest creditor, restaurant supplier US Foods, nearly $2 million.
The filings said the corporation still operates 31 locations and franchises another 17 across 19 states. On its website, though, no locations appear as of Thursday morning.
This isn’t the first time the chain, which was founded in 1991 in Chicago, has gone through Chapter 11.
When it filed for bankruptcy in 2020, three Colorado locations were among a 38 store shutdown, according to the Denver Post.
After 20 years, Bar Louie has had its last call.
The chain restaurant in Central Park closed last week, a spokesperson for The Shops at Northfield told BusinessDen.
The restaurant opened at the shopping center in 2006.
The spokesperson did not say why the restaurant shuddered, but it appears connected to a Chapter 11 bankruptcy its Dallas-based corporate parent filed on March 26.
The chain also had a spot at the Belmar shopping center in Lakewood, which also recently closed according to Yelp. Management did not return a request for comment.
Court documents show Bar Louie closed 13 locations before it went bankrupt.
In a press release, the company said those spots were “underperforming” and closed before the filing to “enhance its financial stability.”
The chain did not respond to a request for comment.
“Inflationary pressures have caused consumers, generally, to cut back on dining out. At the same time, menu prices have risen to keep pace with increased food, utility and labor costs,” Leslie Crook, chief administration officer for Bar Louie, wrote in the filing. “As a result, many of the Debtors’ restaurants have underperformed, causing a drag on the Debtors’ financial performance and management attention.”
As of Dec. 1, 2024, Bar Louie’s earnings were 9 percent less than the same period in 2023, the filing stated. The documents show the business has between $1 million and $10 million in assets and $50 million to $100 million in liabilities.
It owes its biggest creditor, restaurant supplier US Foods, nearly $2 million.
The filings said the corporation still operates 31 locations and franchises another 17 across 19 states. On its website, though, no locations appear as of Thursday morning.
This isn’t the first time the chain, which was founded in 1991 in Chicago, has gone through Chapter 11.
When it filed for bankruptcy in 2020, three Colorado locations were among a 38 store shutdown, according to the Denver Post.
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