Bar Louie
Many once knew Bar Louie for its great food and happy hour cocktails. However, the chain isn’t doing well at the moment due to substantial dept. As a result, several locations had to close their doors forever, and the chain’s future is uncertain.
When Bar Louie was still doing well, they had 134 locations across the country. However, after expanding too fast, the chain’s sales began to fall. Bar Louise is now facing over $100 million in dept. They currently own 79 locations, with more of them closing every year.