August 2, 2016

Logan's Roadhouse Near Foreclosure?

We occasionally have fun here keeping track of former McDonald's corporate bureaucrats 
and once in a while its good to review the track record of current corporate execs.

For instance - let's check in on Logan's Roadhouse where Mike Andres spent 18 months as 
CEO before returning to McDonald's.

Parent company LRI Holdings is in trouble with its lenders and their current forbearance 
period ends in mid-August.

The company has lost more than $300 million over the past three years. Andres was CEO
of Logan's during the first of those three years and has been back at McDonald's for the 
past two years. Apparently the damage was too severe to repair.

Say what you want about Mike Andres but his timing is impeccable.

Logan’s lenders agree to extend forbearance again - Nashville Post
.

4 comments:

Anonymous said...

The revolving door of incompetence.

Anonymous said...

The press and Wall Street give the new management credit for simplifying the menu but every day our stores become more difficult to operate. We need people in upper management who have actually run McDonald’s restaurants.

Anonymous said...

Betting that Andres won't be at the 2018 WWC.

Anonymous said...

Kevin Reddy (ex McD) just got the boot at Noodles & Co