Louisville-based restaurant Green District Salads files for bankruptcy

Rae Johnson, Louisville Courier Journal
·2 min read

Louisville-based Green District Salads has filed for Chapter 11 bankruptcy protection, according to court documents.

Green District, led by Green District Franchisee Parent Inc., filed for Chapter 11 protection with the U.S. Bankruptcy Court for the Western District of Kentucky Aug. 18, court records show. The fast-casual salad and sandwich-style restaurant operates at least eight locations in Louisville and the surrounding area, according to the restaurant's website.

"The decision to seek Chapter 11 relief was based on management’s conclusion that action was required to preserve Green District’s assets. The company will continue its operations with the support of its secured lender. This filing is part of Green District’s process to restructure the company and focus on its well-performing locations in Greater Louisville and Cincinnati," according to a statement from Green District, Business First reported.

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The company, represented by DelCotto Law Group PLLC., would be able to "restructure its creditor obligations to keep the business alive and pay back its debts over time" under Chapter 11, according to the report.

Opened by Jordan Doepke, Chris Furlow and Matt Petty, Green District's first store was opened in 2017 in St. Matthews. They have since added franchises in other states such as Indiana and Ohio.

Lousiville-based investment company, The Castellan Group, was part of a private equity investment in the restaurant's expansion plans, according to previous Courier Journal reporting. The company planned a goal of $100 million in revenue from the restaurant by 2026.

"The decision to file for Chapter 11 protection was a difficult one," according to the company's statement. "Leadership carefully considered what effect such a reorganization would have on employees, customers, creditors, vendors and the community, and ultimately decided this was the best course of action available."

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Contact reporter Rae Johnson at RNJohnson@gannett.com. Follow them on Twitter at @RaeJ_33

This article originally appeared on Louisville Courier Journal: Green District Salads files for Chapter 11 bankruptcy