Texas-based restaurant chain closes in Power & Light. But it’s still open in Zona Rosa

Addison, Texas-based Bar Louie has filed for bankruptcy reorganization and is closing dozens of “underperforming” locations, including one in the Power & Light District.

The chain has 96 locations in 26 states across the country but recently closed 38 restaurants to “strengthen its operational and financial position,” CNN reported.

Bar Louie said it has received commitments from its lenders for debtor-in-possession (DIP) 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.

According to a press release issued by Bar Louie, it expects to emerge from Chapter 11 within 90 days.

“Bar Louie is a profitable business focused on long-term growth with new investors. The sale through Chapter 11 will help us to focus on our profitable core locations and expand in areas that have a proven track record of success,” said Tom Fricke, CEO of Bar Louie, in the statement. “Most importantly, it ensures that we can continue to provide superior service to our guests, implement an exciting range of new customer-facing initiatives, expand our marketing influence, and continue to offer the 5-star experience we are known for.”

Bar Louie opened in the former Ted’s Montana Grill spot, 101 E. 14th St., in September 2011. The gastrobar offered small plates, flatbreads, burgers, salads and entrees.

Officials with the Power & Light District couldn’t be reached for comment.

Bar Louie also has a location in the Northland’s Zona Rosa that is still in operation.

A Zona Rosa spokeswoman said, “There has been no communication from the parent company that our location will be closing.”

This story was originally published January 27, 2020 at 11:41 AM.