Author Topic: Owner of Joe's Crab Shack chain files for bankruptcy  (Read 991 times)

0 Members and 1 Guest are viewing this topic.

Offline ABX

  • Hero Member
  • *****
  • Posts: 900
  • Words full of sound and fury, signifying nothing.
Owner of Joe's Crab Shack chain files for bankruptcy
« on: June 08, 2017, 01:10:36 am »
Quote
The owner of the Joe's Crab Shack casual dining chain filed for Chapter 11 bankruptcy on Tuesday amid falling sales, and plans to sell the company for at least $50 million to a private equity firm, according to a court filing.

Ignite Restaurant, which also owns the Brick House Tavern + Tap chain, has been closing weaker locations and began to pursue a sale of the business last year, according to court documents....

http://www.cnbc.com/2017/06/06/joes-crab-shack-owner-ignite-files-for-bankruptcy.html



Offline IsailedawayfromFR

  • Hero Member
  • *****
  • Posts: 18,746
Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #1 on: June 08, 2017, 01:18:45 am »
Guess the YMCA dance gig by men cavorting as the Village People just did not go over all that well after all with normal people.
« Last Edit: June 08, 2017, 01:20:38 am by IsailedawayfromFR »
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Smokin Joe

  • Hero Member
  • *****
  • Posts: 56,397
  • I was a "conspiracy theorist". Now I'm just right.
Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #2 on: June 08, 2017, 03:21:37 am »
Guess the YMCA dance gig by men cavorting as the Village People just did not go over all that well after all with normal people.
Wrong kind of crabs....who'd want some dungeon-a$$ed crab after that ad?
« Last Edit: June 08, 2017, 03:22:35 am by Smokin Joe »
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Frank Cannon

  • Hero Member
  • *****
  • Posts: 26,097
  • Gender: Male
Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #3 on: June 08, 2017, 03:23:51 am »
Owner of Joe's Crab Shack chain files for bankruptcy

On the bright side Joe's Herpes Hut is doing a brisk business.

Offline Applewood

  • Hero Member
  • *****
  • Posts: 10,361
Re: Owner of Joe's Crab Shack chain files for bankruptcy
« Reply #4 on: June 09, 2017, 01:00:56 am »
Selling to a private equity firm?  Like Bain Capital?

Doesn't sound good for the chains' employees.

Used to like Joe's, but the menu changed and now, something is off.  I guess teetering on the verge of bankruptcy will do it.