The owners of Tsunami Sushi restaurants have filed for federal bankruptcy protection, just over four years after buying the business from a Lafayette owner.
The ownership group, which operates the Lafayette location along with two in Baton Rouge and another in New Orleans, filed for Chapter 11 protection earlier this week in the Middle District of Louisiana. The company is pledging to remain open through the process.
The four operating companies under the Tsunami brand, now under ownership of Baton Rouge restauranteur Chad Hughes, Connie Hargrave and Sarwat Gad, are facing between $2.5 million and $3.5 million in debts across the four restaurants, the group’s attorney told WAFB.
The list of biggest creditors for the Lafayette location totaled over $300,000, including over $26,000 to Fortune Fish & Gourmet of New Orleans, $7,000 to Loop Linen Service of Westwego and over $7,000 to Southside Produce of Baton Rouge.
In a statement released Wednesday, the group indicated the filing is to reorganize their subsidiaries “continue to serve their customers in Baton Rouge, Lafayette and New Orleans.” The reorganization is expected to be complete in the coming months, the statement read.
The group bought the chain from the Lafayette group led by Michele Ezell, who first opened the Lafayette location downtown in 2000. The Baton Rouge location overlooking the Mississippi River followed in 2004, and a New Orleans location in the Pan American Center Life Center on Poydras Street opened in March 2017.
Land records show the group led by Hughes bought the building at 412 Jefferson St. and the parking lot at the corner of Garfield and Buchanan streets in December 2021 for $2 million.
“Tsunami was such a big part of our communities for so long,” Ezell said. “We put our hearts into it for 22 years. I hope that the current owners are able to restructure it to a place where they can continue the operation — that’s my wish for their employees and their customers.”
Staff Writer Jan Risher contributed to this report.
