Tsunami Restaurants File For Bankruptcy Protection Across Louisiana

A popular Japanese fusion restaurant brand with locations across Louisiana has filed for Chapter 11 bankruptcy protection.

Court records uncovered by investigators show bankruptcy paperwork was filed this week for Tsunami restaurants operating under several subsidiaries throughout the state. The filings include locations in Baton Rouge, New Orleans, and Lafayette.

According to attorney Kent Aguillard, who is handling the case, the restaurants will remain open while the company works through the reorganization process.a

Each location will have approximately 90 days to submit a formal restructuring plan as part of the Chapter 11 proceedings.

Millions In Debt Listed In Court Documents

Court filings reveal the restaurants collectively owe between $2.5 million and $3 million to creditors across Louisiana.

Individual locations reported various debts tied to vendors, property leases, and operational services.

The New Orleans location on Poydras Street reported some of the largest obligations, including roughly $285,000 owed to Stirling Properties, which manages the Pan American Life Center where the restaurant is located.

Other debts listed across the locations include payments owed to seafood distributors, food suppliers, and sanitation service providers.

For example, the Lafayette location reported debts including $26,000 owed to Fortune Fish and $11,000 owed to Loop Linen Service, Inc.

Some of the totals are currently being disputed as part of the ongoing bankruptcy process.

Original Lafayette Founders Sold The Brand In 2021

Tsunami was founded in Lafayette in 2000 by Leah Simon along with Michele and Sean Ezell. The Ezells eventually bought out Simon in 2012 and longtime management team members Fred Nonato and Toon Nguyen became minority owners in 2016 anticipating expansion to New Orleans.

In 2021, the founders and their team sold the business when they were approached by the current ownership group about expanding the brand with a second Baton Rouge location.

At the time, the restaurant was considered successful and had navigated the challenges of the pandemic.

The founders saw the opportunity to sell the brand and have not been involved in ownership or operations for roughly five years.

Restaurants Expected To Continue Operating

Despite the bankruptcy filing, all Tsunami locations are expected to continue serving customers during the restructuring process.

The chain currently operates four restaurants across Louisiana, including two locations in Baton Rouge, one in New Orleans, and the original Lafayette-area presence.

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Chapter 11 bankruptcy allows businesses to continue operating while reorganizing debt and negotiating repayment plans with creditors.

Court proceedings related to the case are still ongoing. See the full report from WAFB here.