Steakhouse Chain Logan’s Roadhouse Files for Bankruptcy Protection
By LILLIAN RIZZO and PATRICK FITZGERALDSteakhouse Logan’s Roadhouse Inc. filed for bankruptcy protection Monday after striking a deal with it bondholders to swap more than $300 million in debt for control of the restaurant chain.
In a court filing, Keith Maib, chief restructuring officer of Logan’s parent LRI Holdings Inc., said Logan’s has reached a deal on the terms of a debt-for-equity swap with private-equity firm Kelso & Co. and one of its bondholders, Blackstone Group’s GSO Capital Partners LP.