Bar Louie filed for Chapter 11 bankruptcy protection today and closed locations in River North and Naperville.

Saddled with $110 million in debt that the company owes to creditors, the company is shuttering 38 of its 134 locations. It deemed those 38 unprofitable.

The company partially blamed the retail downturn, which has particularly impacted the suburban malls that Bar Louie was closely aligned with. The brand was initially founded by Roger Greenfield in Chicago in 1990 and was a hit in the suburban dining market. It eventually relocated to Addison, Texas, a suburb of Dallas.

Stiffer competition along with a downturn at traditional shopping malls and department stores "resulted in less traffic" at stores located near the retail complexes, according to a filing in a Delaware bankruptcy court.

Back in September 2019, the company hired an investment banker to sell the brand and received three interested parties but no deal. The filing states that the minimum bid will be no less than $82.5 million and the acquirer will assume liabilities.