It’s not exactly breaking news that the past 5 years has been a challenge in the restaurant and bar industry. Today was more evidence of that as a legendary bar founded in Illinois 35 years ago has now declared bankruptcy.
There’s good news and bad news about a story shared by Restaurant Dive today. It’s about Bar Louie which was founded in Chicago in 1990 that has just declared chapter 11 bankruptcy. The press release shared by the company says that they have “secured commitments from its lender for debtor-in-possession (DIP) financing, ensuring it can maintain operations, complete the restructuring process, and meet obligations to employees and suppliers”…