Nashville, Tenn.- The Nashville Business Journal reports:

The chain previously announced this year that it was skipping debt payments due in April. The struggling Nashville-based chain has about 250 restaurants in 26 states.

Chapter 11 bankruptcy allows a business to reorganize itself and pay creditors back over time.

In its bankruptcy petition, parent company LRI Holdings Inc. listed $347.2 million of assets and $546.1 million of debts, as of June 30. The petition was filed in Delaware, where the company is incorporated. You can read the bankruptcy petition here (PDF).

Bloomberg broke the news last week that Logan’s was considering filing for bankruptcy. Bloomberg noted that Logan’s is suffering from a broader restaurant slowdown that also has hit competitors like Applebee’s and Buffalo Wild Wings.