Logan’s Roadhouse’s Chapter 11 Bankruptcy Proceedings

Simpson Thacher represented JPMorgan Chase Bank, N.A., as the administrative agent for the first lien revolving lenders in the Chapter 11 bankruptcy proceedings of Logan’s Roadhouse, Inc. (the “Company”). The Company emerged from Chapter 11 on November 23, 2016.

The Company’s confirmed Chapter 11 Plan (“Plan”) provided for a deleveraging of its balance sheet via a debt-for-equity swap with holders of its more than $350 million in secured notes, the replacement of its existing first lien revolving credit facility with a $29 million first lien revolving exit facility and entry into a nearly $80 million second lien exit facility. Prior to its bankruptcy filing in early August, the Company entered into a restructuring support agreement with certain holders of its second lien secured notes and the first lien revolving lenders, setting forth the key terms of the restructuring, including the terms of the first lien exit facility. The Plan was confirmed on November 9, 2016.

Headquartered in Nashville, TN, Logan’s Roadhouse® is a casual dining steakhouse. Logan’s opened its first restaurant in 1991 in Lexington, KY, and now consists of 230 company-operated and 26 franchised restaurants in 23 states.

The Simpson Thacher team included Elisha Graff (Picture), Soogy Lee, Nicholas Baker and Ariana Evarts (Restructuring and Bankruptcy); Patrick Ryan, Adam Weiner and Patrick Vergara (Banking and Credit); George Davis (Tax); Krista McManus and Dennis Loiacono (Real Estate); and Steve DeLott (Insurance).

Involved fees earner: Elisha Graff – Simpson Thacher & Bartlett; Hyang-Sook Lee – Simpson Thacher & Bartlett; Nicholas Baker – Simpson Thacher & Bartlett; Ariana Watson Evarts – Simpson Thacher & Bartlett; Patrick Ryan – Simpson Thacher & Bartlett; Adam Weiner – Simpson Thacher & Bartlett; Patrick Vergara – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; George Davis – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: JPMorgan Chase & Co.;


Author: Ambrogio Visconti