Tsunami, the popular Louisiana sushi brand with restaurants in Baton Rouge, Lafayette and New Orleans, has filed for Chapter 11 bankruptcy protection.
The voluntary petition was filed in the U.S. Bankruptcy Court for the Middle District of Louisiana on Monday.
The filing indicates Tsunami intends to reorganize rather than liquidate. The business is seeking protection under Subchapter V of Chapter 11, a streamlined restructuring process for small businesses created in 2019.
In a statement, Tsunami assured diners that none of its four restaurants are closing.
“Tsunami restaurants are not closing but are merely reorganizing and will continue serving unique sushi, sashimi and Asian dishes in all four locations without interruption,” the statement reads. “Customers should expect to continue to receive the same quality of service and meals upon which the restaurants built their brand.”
Across its four restaurants, Tsunami’s debts total between $2.5 million and $3 million, the brand’s attorney, Kent Aguillard, told WAFB-TV. The business has 90 days to submit a formal restructuring plan.
A creditor list included with the filing shows Tsunami owes money to upward of 20 companies. Creditors include Capitol City Produce, Cintas, Coca-Cola Bottling Co. United, Community Coffee, Red River Bank, Southside Produce and Sysco.
Tsunami opened its first restaurant in Lafayette in 1999 and has since expanded with two locations in Baton Rouge and one in New Orleans. Its rooftop restaurant at Baton Rouge’s Shaw Center for the Arts has long been a prominent downtown dining destination.
Tsunami’s founders sold the business to its current ownership group in 2021. The brand is now under the ownership of Baton Rouge restaurateur Chad Hughes, Sarwat Gad and Connie Hargrove, per local media reports.
Additional filings expected in the coming weeks will likely provide more details on Tsunami’s assets, debts and restructuring plans.
