Business

Houlihan’s closes Algonquin location

The Houlihan's in Algonquin at 1508 S. Randall Road recently announced that it is closed as of last week.
The Houlihan's in Algonquin at 1508 S. Randall Road recently announced that it is closed as of last week.

The Houlihan’s location in Algonquin, at at 1508 S. Randall Road, has closed down as of last week.

According to a sign on the former restaurant and bar’s door, it made the “difficult decision” to close on Nov. 12.

“This decision was taken very seriously and many factors were taken into consideration,” according to the sign. “We would like to offer a heartfelt thank you to the community and our loyal guests for their support and patronage over the past 13 years.”

According to the sign, Algonquin team members were offered the opportunity to transfer to one of Houlihan’s other Chicago area restaurants. Other Houlihan’s locations still operating in Illinois include Geneva, Naperville, Wheaton and Champaign.

Russ Farnum, community development director for Algonquin, said the village is “fully aware of the closure,” although they were not informed of it ahead of time.

“At this point we have not confirmed if they will reopen in the future, get bought out by another restaurant or be replaced by a different restaurant,” Farnum said.

A message left to Houlihan’s corporate office was not returned on Monday.

According to the International Business Times, Houlihan’s Restaurants Inc. filed for Chapter 11 bankruptcy protection on Thursday. The company has since entered into an asset purchase agreement with Landry’s to acquire substantially all of its assets, according to the Times.

According to the bankruptcy filing, Houlihan’s has not paid interest or debt payment to its lender since December. The company cited “unsustainably high occupancy costs” at several of its restaurants, the International Business Times reported.

The International Business Times also reported that Houlihan’s will continue to support its operations throughout the closing of the sale to Landry’s, which is expected by the end of the year. According to the Times, Landry’s operates Landry’s Seafood, Bubba Gump Shrimp Co, Claim Jumper, McCormick & Schmick’s, Morton’s The Steakhouse and the Rainforest Cafe.

Houlihan’s has 69 restaurants under the Houlihan’s Restaurant + Bar, J. Gilbert’s Wood-Fired Steak + Seafood and Devon Seafood Grill brands. About 3,450 employees work for the company, according to the International Business Times.

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